Previous close | 19.93 |
Open | 0.00 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's range | 0.00 - 0.00 |
52-week range | |
Volume | |
Avg. volume | 7,211 |
Market cap | 118.113M |
Beta (5Y monthly) | 1.33 |
PE ratio (TTM) | 0.24 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | N/A |
NEW YORK (Reuters) -When Lachlan Murdoch, the eldest son of media titan Rupert Murdoch, was named the sole chairman of News Corp and Fox Corp on Thursday, the announcement put to rest immediate questions about who will run a sprawling media empire that includes some of the most powerful brands in the world. The executive transition, however, does not settle another potential power play that could occur upon Rupert Murdoch’s death, as framed by a document called the Murdoch Family Trust. It is the vehicle through which the elder Murdoch controls News Corp and Fox Corp, through a roughly 40% stake in voting shares of each company.
For some Australians, Rupert Murdoch's exit from the leadership of his media empire was a time to reflect on the country's greatest business success story. But as the country that produced the most powerful modern media figure processed the news he was stepping down as chairman of Fox Corp and News Corp, a consensus view quickly formed that there would never be another like him. "For one bloke to lead the world's most powerful family, build a A$30 billion ($19 billion) family fortune, and influence global affairs for decades is extraordinary," said Stephen Mayne, a former News journalist turned shareholder activist who has grilled Murdoch about the company's dealings at 15 annual meetings since 1999.
He is the eldest boy! On Thursday, 92-year-old Rupert Murdoch announced he's leaving his dual chair posts at Fox and News Corp, naming oldest son...