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Posts Tagged ‘Rupert Murdoch’

Rupert Murdoch is Selling His Yacht for Only $29.7 Million

Rupert Murdoch is selling his sailing yacht — named Roseharty — for $29.7 million. Murdoch is going through a divorce and he recently purchased a winery, so it makes sense that he’s looking to recoup some cash on the yacht. Plus, CNBC’s sources say Murdoch never used it as much as Wendi Murdoch did, which is totally not the reason Rupert is selling it.

Here are some details about Roseharty, via CNBC:

The yacht was built in 2006 by Perini Navi, the Italian shipyard known for its luxurious, sleek sailing yachts. Rosehearty has a crisp, modern interior by French designer Christian Liaigre, with five suites for 10 guests, including two VIP suites. The main mast of the yacht towers at 193 feet, and it has a sail area of 16,792 square feet.

An ’06 Perini Navi with interior by Christian Liaigre? Hmmm… We say lowball it.

Rupert Murdoch’s Pay Drops to $28.9 Million

For News Corp.’s latest fiscal year — which ended June 30 — Rupert Murdoch saw his compensation drop from $30 million to $28.9 million. We have to ask: Why even leave the house on that kind of pay?

The only thing keeping Murdoch going is probably the $274,531 he got for the use of News Corp.’s private plane and the $15,694 he got for the use of one of the company’s cars. Otherwise, really, it’s better to just hide your face in shame.

According to The Hollywood Reporter, Chase Carey — News Corp.’s president and COO — only raked in $27.05 million, so don’t expect to see him in public until at least next year.

Rupert Murdoch Buys Winery for $28.8 Million

Rupert Murdoch is getting into the wine business. The Wall Street Journal reports that he has purchased Moraga Vineyards for $28.8 million. Murdoch first heard of the winey via an article in the Journal. Of course.

The winery is located on 13 acres in Bel Air, and boasts a 7,500-square-foot main house (built by Victor Fleming, who directed Gone With The Wind and The Wizard of Oz), a guest house, staff quarters, a tasting room, and a 2,300-square-foot winery that produces about 1,500 cases of vino a year. The deal also includes about $4 million in wine inventory.

Murdoch isn’t just going to be an owner who stands idly by, either. According to Jim Kline, the listing agent, “He’s [Murdoch] excited about learning the wine-making business.”

If Murdoch puts his mug on the label, we’re buying a case. Mark our words.

AllThingsD May Separate From Dow Jones

AllThingsD, the tech news site, is rumored to be working its way away from Dow Jones, the News Corp. subsidiary that owns the site. Fortune reports that AllThingsD’s contract expires on December 31, so Kara Swisher and Walt Mossberg — the founders of AllThingsD — are busy trying to find investors that might be interested in buying a stake in the site.

The asking price is rumored to be somewhere between $10 million and $15 million for a 25 percent or 30 percent chunk of the company. Swisher and Mossberg are looking at media companies, and so far three proposals have been submitted; one of which is from NBCUniversal. Other companies that were discussed include Bloomberg, The Washington Post Company and Condé Nast.

As for now, this is just speculation. Swisher and Mossberg could leave to start a new site and AllThingsD could end up remaining under the News Corp. umbrella. Either way, a source told Fortune that Rupert Murdoch “will probably make the final call on what happens.”

Freedom Communications President Points to Pair of Shining Newspaper Examples

It’s another momentous day at the Santa Ana, CA headquarters of the Orange County Register. The Eric Spitz-Aaron Kushner regime is celebrating the launch of the Long Beach Register, a new daily newspaper going head-to-head in that region with the Long Beach Press-Telegram.

Spitz is very clear about his belief in website paywalls. He made his case for valuing digital news content alongside Kushner in a recent one-year anniversary Q&A and restates those same basic principles today via Wall Street Journal op ed:

I know of only two major newspaper companies that have not seen significant declines in their subscriber bases in the past decade: The Wall Street Journal and Groupa Reforma, the largest newspaper company in Mexico. The former has never given away its digital content, and the latter erected its first paywall in 2002.

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Col Allan Urges Australian Newspaper Editors to ‘Rely on Their Instincts’

The temporarily reassigned New York Post EIC has spoken Down Under. Addressing about 60 News Corp. Australia newspaper editors gathered Wednesday at HarperCollins headquarters in Sydney, Col Allan delivered an emphatic ten-minute rallying cry.

From a report by The Australian‘s media diarist Nick Leys who, it should be noted in this case, works for the execs he is reporting on:

Allan urged them to rely on their instincts about their newspapers and what readers want and to not be beholden to “the data”.

And he told the editors and senior editorial staff from around the country that their newspapers had become too similar and they needed to produce titles that were differentiated from each other.

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Wendi Murdoch Switches Divorce Lawyer

It has been about two months since Rupert Murdoch filed for divorce from Wendi Murdoch, his wife of 14 years. And, if The New York Times is right, things are about to get rough. Wendi has ditched Pamela Sloan as her legal advisor and hired William Zabel.

The Murdochs signed a prenup and two postnups, but Zabel, who has had experience with “nasty marital spats,” is expected to debate custody rights of the couple’s two children and explore the details of the Murdoch family trust. Apparently the latter has been the source of contention for years.

In a 2006 interview with Charlie Rose, Murdoch mentioned that Chloe and Grace would enjoy the same financial benefits of the trust as his other four kids, but not the voting power. That didn’t sit well with Wendi:

The slip almost created a separation, and prompted Mrs. Murdoch to negotiate more favorable terms for her daughters, according to people close to the couple. Mr. Zabel, an expert in trust law, is expected to examine the soundness of the trust structure.

Round one hasn’t even started, but this is indeed shaping up to be a hell of a fight.

Arianna Huffington Responds to Mayor’s LAT Suggestion

During a half-hour Wednesday sit-down with HuffPost Live Los Angeles co-host Jacob Soboroff, newly minted mayor elect Eric Garcetti at one point made a funny throwaway observation. Instead of Rupert, Charles/David or Eli, how about Arianna Huffington as the new owner of the LA Times, he mused.

FishbowlNY put in a request today to HP-HQ for Arianna’s reaction, but she {sniff} opted for the broader pulpit of Twitter:

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News Corp Brushes Aside Secret Rupert Murdoch Recording

In public statements, Rupert Murdoch has sounded extremely remorseful about the infamous phone hacking scandal. But in a secret recording, made by someone at the Sun, Murdoch came off quite differently.

According to a report by Exaro and the UK’s Channel 4 news, Murdoch explained to arrested staffers that the hacking was “next to nothing” and had been going for many years. When Geoff Webster, the Sun’s deputy editor, suggested they should “hit back back when we can,” Murdoch agreed, saying, “We will; we will.”

Naturally the tape caused quite an uproar, but News Corp. is doing its best to brush it all aside.

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Morning Media Newsfeed: Murdoch Caught on Tape | Al Jazeera Targeted | Trouble at Patch?


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Rupert Murdoch Caught on Tape: ‘We Will Hit Back’ (Gawker)
ExaroNews, a British investigative website, has just published the full transcript of a secretly recorded meeting between media mogul Rupert Murdoch and the staff of The Sun, a U.K. tabloid owned by News Corp., in which Murdoch admitted that he was aware for decades that journalists from his newspapers had been bribing both police and public officials. CJR / The Audit At long last we now have indisputable evidence that Murdoch knew about the culture of criminality at his newspapers. It’s fair to say Murdoch is going to have some major headaches from this one: “We’re talking about payments for news tips from cops: that’s been going on a hundred years, absolutely. You didn’t instigate it… I remember when I first bought the News of the World, the first day I went to the office… and there was a big wall-safe… And I said, ‘What’s that for?’ And they said, ‘We keep some cash in there.’ And I said, ‘What for?’ They said, ‘Well, sometimes the editor needs some on a Saturday night for powerful friends. And sometimes the chairman is doing badly at the tables, and he helps himself.’” The Guardian / Greenslade Blog The real significance of the tape is that it reveals the true, unexpurgated Murdoch. As I have said often since the hacking scandal first broke, as the man at the top I believe he has been responsible for the journalistic culture at Wapping. This tape appears to prove my point. The Guardian A prominent Labour MP has said US authorities should press corporate corruption charges against Murdoch’s global empire after he admitted in a secretly recorded meeting with staff on The Sun that payments to police were part of “the culture of Fleet Street.”

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