It’s possible that Rupert Murdoch allowed himself the ghost of a smile on hearing that Michael Wolff – one of his most vociferous and tiresome tormentors – had been defenestrated from his fastness at AdWeek.
We might like to think of AdWeek as a trade magazine covering the US advertising, media and marketing scene. But for the past year it has been hijacked by Wolff’s anti-Murdoch agenda and shamelessly exploited by the former editorial director as a scandal-sheet covering every last detail of the so-called “Murdochcalypse”.
Murdoch will have been a good deal less pleased by what he read in the New York Times yesterday. Wolff is a gadfly, but the NYT is a seriously influential enemy which has taken it upon itself to drive a wedge between Murdoch and his presumed heir, younger son James.
It is not so much the content of the article as its timing that is so troubling. Murdoch and his brood are just days away from NewCorp’s annual general meeting that could theoretically see them unseated as directors. The last thing they need is another stinkbomb.
As it happens, the NYT article fails to come up with anything stunningly original. Provocatively titled ‘In Rift Between Murdochs, Heir Becomes Less Apparent‘ , it dwells on tensions – real and possibly imagined – between the two men in the hope of creating so much further bad blood that Murdoch père will eventually perform an Abrahamic sacrifice of his son’s career prospects in order to save his own skin.
Certainly Murdoch senior has been performing a skilful dance of the seven veils to protect his reputation. First he closed News of the World, and abandoned his cherished bid for BSkyB. When that didn’t work, he sacrificed his faithful retainers Les Hinton and Rebekah Brooks. The tide of effluent still failing to ebb, he contributed millions, individually and corporately, to the Milly Dowler Fund.
For a while, the NewsCorp share price appeared to bounce back. Then came the hammer blow: a major shareholders’ revolt, partly sustained by new evidence of malpractice in the NewsCorp empire, this time at The Wall Street Journal.
Something like 25% of investors are expected to vote against the re-election of the Murdoch board on Friday. In almost any other public company that would mean curtains. But not at NewsCorp, where – unluckily for the institutional rebels – nearly 40% of the voting shares are owned by the Murdoch family.
So not much is really going to happen in the short term. Except some searing humiliation, fanned by the NYT. The worse it is, the poorer James Murdoch’s chances of eventual survival.
And that’s before his return for further grilling by the House of Commons media select committee, over the porkie pies and half-truths uttered during his last appearance.
Posted by stuartsmithsblog 
