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In House of Murdoch, Sons Set About an Elaborate Overhaul
APRIL 22, 2017 | The New York Times | By BROOKS BARNES and SYDNEY EMBER.

With James and his elder brother, Lachlan, 45, who is the executive chairman of 21st Century Fox, firmly entrenched as their father’s successors, they are now forcibly exerting themselves. Their father remains very involved, but his sons seem determined to rid the company of its roguish, old-guard internal culture and tilt operations toward the digital future. They are working to make the family empire their own, not the one the elder Murdoch created to suit his sensibilities.....The conglomerate, like its competitors, is facing an extremely uncertain future. Consumers are canceling or forgoing cable hookups and instead subscribing to streaming services like Netflix and Hulu, which 21st Century Fox co-owns. The movie business continues to grapple with piracy, rising costs and flat domestic attendance. Fox also has special problems: With competitors getting bigger — AT&T’s $85.4 billion purchase of Time Warner being Exhibit A — where does that leave the Murdochs?

“That’s a question I think they asked themselves and moved them to try to buy the rest of Sky,” said Michael Nathanson, an analyst at MoffettNathanson, referring to a pending $14.3 billion deal for 21st Century Fox to take full control of the British satellite TV giant.

At the moment, 21st Century Fox’s portfolio is relatively healthy. Fox News has continued to dominate in the ratings. The FX cable channel has found a steady stream of hits, including “Atlanta” and “The People v. O. J. Simpson.” The Fox broadcast network has struggled to find new must-see shows, but the company’s overseas channels and sports networks are thriving. In its most recent quarter, 21st Century Fox reported income of $856 million, a 27 percent increase from the same period a year earlier.
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april 2017 by jerryking

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