Lachlan Murdoch
Lachlan Murdoch Drops Defamation Suit Against Australian News Site
Just days after Fox Corp. settled the Dominion defamation suit for $787.5 million, the company’s executive chairman and CEO, Lachlan Murdoch, dropped defamation proceedings against the independent Australian news site Crikey, which linked his family to the U.S. Capitol attack on Jan. 6, 2021. In August 2022, Murdoch launched defamation proceedings in a Sydney court […]
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As It Weighs Murdoch-Driven Merger, Fox Corp. Posts Rise in Revenue on Record Political Advertising Haul
Fox Corp. reported revenue in its fiscal first quarter of $3.19 billion, up 5 percent from the same quarter a year ago, owing to higher affiliate fees and a strong advertising environment, led by a record-shattering midterm elections advertising haul. That being said, the company reported net income of $618 million, down from $708 million […]
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Murdochs See Fox Pay Packages Trimmed in 2022
Rupert and Lachlan Murdoch saw their compensation packages at Fox Corp. trimmed in the fiscal year that ended June 30, 2022. Rupert Murdoch, Fox’s chairman, received a pay package totaling $18.4 million last year. That was down from $31.1 million a year earlier. Similarly, Lachlan Murdoch, Fox’s executive chairman and CEO, received a $21.7 million […]
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Lachlan Murdoch Sues Australian Website for Defamation Related to Jan. 6 Opinion Piece
Fox Corp. chief executive Lachlan Murdoch is suing Australian news website Crikey in a Sydney court for defamation over an opinion piece about last year’s storming of the U.S. Capitol. Media mogul Rupert Murdoch’s son filed a statement of claim in the Federal Court on Tuesday, a day after Crikey publisher Private Media’s chairman Eric […]
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Lachlan Murdoch: “Unprecedented” Political Advertising Spend Fueling Fox Corp. Growth
Fox Corp., led by CEO Lachlan Murdoch, reported higher advertising and affiliate fee revenues for its fiscal fourth quarter, while overall earnings and revenue missed analyst expectations. The media company posted total revenue of $3.03 billion for the three months to June 30, up 5 percent from a year-earlier $2.89 billion. Zack Consensus Estimate forecast […]
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Fox Is Happy to Stay Out of the Streaming Wars “Bloodbath,” Says CEO Lachlan Murdoch
Fox is more than happy to be outside of the streaming wars and focused instead on its advertising-based video-on-demand platform and its live offerings. “We’ve been very happily on the sidelines watching this sort of bloodbath, which is going on in the SVOD market,” Fox CEO Lachlan Murdoch said Wednesday. “And what that’s meant is […]
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Strong Advertising Performance at Tubi and Fox News Drives Fox Corp. Earnings
Strong advertising deliveries swung Fox Corp. back to profitability in the company’s last quarter (its fiscal Q3), after it had reported a loss in fiscal Q2. Fox reported revenues of $3.45 billion, including advertising revenues of $1.3 billion, and reported net income of $290 million. That being said, profits were down from a year earlier, […]
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Fox CEO Says Company Still Needs Scripted and Unscripted Entertainment Amid “Tough” Streaming Shift
Fox Corp. CEO Lachlan Murdoch says that his company remains committed to entertainment even as it has pivoted its focus to news and sports, telling a Morgan Stanley conference that scripted dramas and reality shows are “important to bind the ecosystem” it has created. At the same time, Murdoch argued that Fox News, with its […]
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Fox Corp. Ad Revenue Tops $1.1B Led by Live Sports, Tubi
Fox Corp. reported strong quarterly earnings Wednesday, as the TV business continued to rebound from a year earlier, when the pandemic was wrecking havoc on the advertising and TV business. The earnings, for fiscal Q1 of 2022 (the quarter that ended Sept. 30), saw the company have revenues of $3.05 billion (up 12 percent year-over-year), […]
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News Corp Terminates “Poison Pill” Takeover Defense, Caps Murdoch Family’s Voting Power
Rupert Murdoch’s News Corp said Wednesday that its board of directors has authorized a $1 billion stock buyback program, terminated a shareholder rights plan, also known as a “poison pill,” which is a defense against hostile takeovers, and struck a deal with the Murdoch family to cap any increase in its voting power. The moves […]
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Murdochs Take Pandemic Pay Cut to $31M and $27M
Fox Corp. CEO Lachlan Murdoch and his father, chairman Rupert Murdoch, each saw their compensation packages fall in 2021 due to pandemic-spurred pay cuts. Rupert still took home a compensation package valued at $31.1 million, with Lachlan Murdoch seeing a package valued at $27.7 million. Those are down from $34 million and $29.1 million the […]
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Fox CEO Lachlan Murdoch Calls TMZ Buy “Very Modest”
Fox Corp. CEO says that the company’s roughly $50 million deal to buy TMZ was “very modest” in scale, but one that fits into the company’s overall acquisition strategy. Praising TMZ’s digital presence, Murdoch told a Bank of America conference Tuesday that “when we look at TMZ, we see a business that we were not […]
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