Mired in inquiries and new embarrassing revelations, James Murdoch on Wednesday quit as executive chairman of News International, the Rupert Murdoch-owned company's troubled publishing unit in the UK.
As part of the reshuffle, James Murdoch will step down as chief executive of British Sky Broadcasting, and replace his father as non-executive chairman of the UK satellite broadcaster.
British police should launch a probe into claims by News International Chairman James Murdoch's two former employees that he gave "mistaken" testimony before a Parliamentary committee on the phone-hacking scandal, opposition Labour MP Tom Watson said on Friday.
The MediaGuardian 100 power list, which measures the economic, cultural and political influence was topped by Brin and Page in recognition "of the all-pervasive impact of Google on the media". James, chairman of satellite broadcaster BSkyB in Britain and News Corp. Europe and Asia's chairman and chief executive, ranked second in the list, while his father was fifth in the ranking.
In a surprise move that comes in the midst of an inquiry into the phone hacking scandal, James Murdoch, the son of media baron Rupert Murdoch, resigned on Wednesday as director of the United Kingdom-based companies that run prestigious titles like The Sunday Times, The Sun and The Times.
From a Harvard drop-out who set up his own music label, James Murdoch became a surprise potential successor to the News Corp throne. Till then only elder brother Lachlan had been in the reckoning. James went on to head BSkyB, one of UK's top pay TV brands.
Some investors have questioned whether James is less attached to some parts of the media empire that his father built
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
Putting News International chairman James Murdoch in a tight spot, two of his former executives have questioned his testimony to a parliamentary committee where he pleaded ignorance to the wider practice of phone hacking at his now defunct newspaper News of the World.
Putting News International chairman James Murdoch in a tight spot, two of his former executives have questioned his testimony to a parliamentary committee where he pleaded ignorance to the wider practice of phone hacking at his now defunct newspaper News of the World.
In a damning report, a key parliamentary committee in the United Kingdom on Tuesday concluded that media baron Rupert Murdoch misled Parliament and was "not a fit person" to exercise the stewardship of a major international company in the wake of the phone-hacking controversy. The Culture, Media and Sport Select Committee that investigated the issue at length and heard evidence from Rupert Murdoch, 81, and his son James Murdoch last year, severely criticised Murdoch.
Reeling under sustained criticism, media baron Rupert Murdoch and his family on Friday went into damage-limitation mode by promising to "apologise" to the nation, and accepted the resignation of former News of the World editor Rebekah Brooks. The Murdochs and their media empire have become the focus of criticism and inquiries in Britain as well as in the United States and Australia, besides taking knocks on the stock exchange for indulging in dubious news gathering practices.
Culture Secretary Jeremy Hunt was among several people in the David Cameron government left squirming as James Murdoch's deposition with the Leveson Inquiry on Tuesday revealed close proximity with people in power, particularly on the issue of the failed BSkyB takeover bid.
Under fire on the raging phone-hacking issue, News International chairman James Murdoch on Thursday insisted that he had been kept in the dark about the culture of criminality in the now-defunct News of the World, prompting a leading member of Parliament to label him a "mafia boss".
Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18's media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore. The new entity will be guided by three chief executive officers (CEOs), "who will lead the company into a new era of ambition and disruption", according to a joint statement. Kevin Vaz will lead the entertainment division across all platforms, Kiran Mani will head the combined digital division, and Sanjog Gupta will oversee the sports operations.
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
United States President Joe Biden spoke of nuclear 'Armageddon' in a warning about the escalation in Russia's war in Ukraine during a speech on Thursday.
Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development. This move is seen as part of RIL's broader strategy to deepen its footprint in India's television distribution sector. Tata Sons, the holding company of the Tata group, currently holds a 50.2 per cent stake in the satellite television broadcaster.
Some key investors have been warming to the idea that Murdoch (Jr) has the ability to run Fox
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
British author Samantha Harvey has won the 2024 Booker Prize for her 'ambitious and beautiful' Orbital, which becomes the first novel set in space to win the GBP 50,000 literary prize selected from a historic shortlist that was dominated by women this year.
Russian President Vladimir Putin on Friday said that any direct contact or direct clash of North Atlantic Treaty Organisation (NATO) troops with the Russian army would lead to a 'global catastrophe'.
Disney Star India, bought at a valuation of $15 billion, could be on the block for roughly one-third that amount.
Disney Star won the coveted IPL Indian sub-continent TV rights for a whopping Rs 23,575 crore, while Viacom18 grabbed the digital rights with a bid of Rs 20,500 crore at the media rights auction on Monday.
At a time when there is a growing number of edtech companies laying off employees in a bid to conserve cash and focus on profitability amid a funding winter, Ronnie Screwvala-led upGrad is expanding its facilities and hiring talent. The company plans to hire over 1400 team members between November 2022 and March 2023 in India and at offices outside the country. upGrad has also signed new leases in the past few months for 335,000 sq ft of space across four cities -- Mumbai, Bengaluru, Pune and Noida.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
The Indian Premier League's media rights for the next five years have been sold for a whopping Rs. 48,930 crore, said BCCI secretary Jay Shah on Tuesday.
This season, the nature of the advertising game has changed dramatically with TV and digital rights going to different entities.
Mukesh Ambani-owned TV18 Broadcast was valued at $824 million.
The Board of Control for Cricket in India (BCCI) has pegged the base price for the combined IPL media rights at Rs 32,890 crore, nearly double the Rs 16,347 that Star Disney paid five years ago. Experts say that at these levels, there does not seem to be any profit-and-loss logic at play. It is more about what premium broadcasting companies are ready to spend for market share dominance. They point out that due to competition, they expect the final price to hit Rs 40,000-50,000 crore.
Manchester United is no stranger to ownership tussles and the rough and tumble of financial markets.
The move will catapult Disney as the country's largest media and entertainment broadcaster, with over $1.3 billion of additional India revenue.
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