Lachlan Murdoch is taking over from his father Rupert Murdoch – but for how long? | 7.30

after Decades of preparation it took Lachlan Murdoch only a day to put his stamp on the leadership of his family's media giant there's never been a more critical time [Music] no sooner had Rupert Murdoch revealed he will step back to chairman emeritus roles at Fox and news corporation Lachlan announced former Prime Minister Tony Abbott will be nominated for a seat on the board which controls Fox News channel in the U.S longtime Murdoch family Watchers say the message is hard to miss it really shows that Lachlan is Keen to assert his conservative credentials uh in the eyes of the fox board and also the U.S media uh you would say that Tony Abbott is lachlan's closest friend in Australian politics and Lachlan wants to see a friendly face on the board if his father is no longer going to be in the room he'll join a board that already includes strong conservative voices such as former U.S Republican house Speaker Paul Ryan and I think Fox is a big part of the constellation the conservative movement if people are expecting political Bend of Murdoch's properties with the changeover from Rupert to Lachlan people are going to be disappointed disappointment shows that he is very much going to keep going in the same direction that his father has for 70 years [Music] it's a direction Sarah Ellison believes has left an indelible mark on U.S politics Rupert Murdoch has Blended politics and entertainment in a way that has affected the way people think about the truth steps back as Fox walks the tightrope of Donald Trump Fox News repeatedly aired false claims about the 2020 U.S presidential election there has been a massive and coordinated effort to steal this election and settled a defamation lawsuit for nearly 800 million US Dollars there's a widely held view in the U.S the murdochs would like nothing better than to put Trump behind them in a way Rupert Murdoch has created something he can't control in Donald Trump no matter what Fox News has tried Donald Trump is still the leader of the Republican Party Rupert Murdoch and Trump have a relationship that goes back decades but Lachlan didn't even beat him until he was already president well Lachlan is much less of the king Micah that Rupert has been throughout his 70-year career [Music] Rupert like his own father sir Keith is a in federal political power broker he has always been and wanted to be at the center of you know the political debate whether it's in Australia in the United Kingdom or in the United States Lachlan is much less that kind of figure journalist and editor Mark day's career at News Corp spanned more than five decades he believes Rupert Murdoch's King making ability served him well well I think there's just no question that he has proved himself Australia's greatest businessman there's been none like it none have come close to him there are some who say that Rupert has been a pernicious influence on democracy and there are others who say he has enabled the masses to speak speak freely and say what they think day will leave it to others to judge Rupert Murdoch's legacies of phone hacking in the UK and the rule Fox News played in the January 6th storming of the U.S Capitol one thing he says was never in doubt the marching orders from the boss to his editors they knew that they were editing center right publication because that was the corporate position and the corporate position was important because if you stand for nothing you are nothing if you have to be seen to believe in something now it's lachlan's turn at the helm but for how long the Murdoch's ownership stake in Fox and News Corp is controlled by the Murdoch Family Trust it has eight votes four controlled by Rupert Murdoch and one by each of his four eldest children should Rupert Murdoch die the children would inherit his voting shares setting up a potential battle over the future of the family Empire [Music] it is certainly a plausible scenario that when Rupert dies the three siblings gang up and put pressure on Lachlan either to bring Fox News much more back towards the middle or even to role him as chief executive and executive chairman [Music] it does seem like life imitating Art Is Possible in this Murdoch succession uh drama Sarah Ellison believes the Second Son James could be the key to a real life struggle for control he has repeatedly criticized the editorial direction of Fox News celebrates America you watch Fox News uh no where do you get your news um a variety of sources certainly people close to Rupert's Second Son James Murdoch have talked about once Rupert dies there could be a scenario where James tries to Rally the Institutional Investor base and his and two of his sisters to try to align against Lachlan and take over the companies and try to put it on a less politically um extreme sort of path [Music] the battle for succession played well on television ultimately it may be even more fascinating in real life [Applause]