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Lachlan Keith Murdoch (; born 8 September 1971) is a businessman and
mass media Mass media refers to a diverse array of media (communication), media technology, technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets. Broa ...
heir. He is the executive chairman of Nova Entertainment, co-chairman of News Corp, executive chairman and CEO of the Fox Corporation, the founder of Australian investment company Illyria Pty Ltd.


Early life and education

Lachlan Murdoch was born on 8 September 1971 in London, England. He is the eldest son of Australian-born American media mogul , and his second wife, Scottish journalist and author Anna Murdoch Mann. He was raised in New York City where his father owned the ''
New York Post The ''New York Post'' (sometimes abbreviated as ''NY Post'') is a Conservatism in the United States, conservative-leaning daily newspaper, daily Tabloid (newspaper format), tabloid newspaper in New York City. The ''Post'' also operates NYPost.com ...

New York Post
''. He received his primary and secondary education at the Aspen Country Day School in Aspen, Colorado, Trinity School in New York City, and at Phillips Academy in
Andover, Massachusetts Andover is a New England town, town in Essex County, Massachusetts, United States. It was settled in 1642 and incorporated in 1646."Andover" in ''Encyclopedia Britannica, The New Encyclopædia Britannica''. Chicago: Encyclopædia Britannica Inc. ...
. In 1994, he graduated with a bachelor's degree from
Princeton University Princeton University is a private university, private Ivy League research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth ...
in Philosophy. While at Princeton, he studied philosophy with Béatrice Longuenesse and Alan Hajek.


Career


News Corp executive

In 1989, Rupert Murdoch brought Lachlan Murdoch, then 18 years old, to Australia while on business, to have Lachlan trained for three months at the ''Daily Mirror''. At the age of 22, Murdoch was appointed general manager of Queensland Newspapers, the publisher of
Brisbane Brisbane ( ) is the capital of and most populous city in the Australian state of Queensland Queensland ( ,) is a state situated in northeastern Australia, and is the States and territories of Australia, second-largest and third-most popul ...
's '' Courier-Mail''. One year later, he became publisher of Australia's first national paper, ''The Australian''. In 1995 he was appointed Deputy CEO of News Limited, Executive Director of News Corporation in 1996, Deputy Chief Operating Officer in 2000; he was made Senior Executive Vice President from 1999 to 2000, and has been Chairman of STAR TV (Asia), STAR since 1995. Encouraged to invest in One.Tel by his friend Australian businessman James Packer, the son of television network owner Kerry Packer, Murdoch was extensively criticised for encouraging News Corporation's multi-hundred million-dollar investment in the start-up telecommunications company. In April 2014, Murdoch and Packer agreed to an 40 million settlement over the failure of One.Tel. The settlement was approved by the Supreme Court of New South Wales on 17 April 2014, with 14.93 million to be paid by the Packer family's Consolidated Press Holdings, 11.77 million to be paid by Packer's Crown Resorts and 13.3 million to be paid by News Corp. Murdoch led an initial $10.75 million investment, of which only $2.25 million was in cash, in REA Group, and subsequently championed the retention of the investment over the objections of those who wished to sell it. The company later emerged as Australia's market leader in online real estate advertising, and in 2014 was assessed as worth more than $3.6 billion to News Corp. With a personal interest in Australian rugby league, on 30 March 1995 Murdoch was at the first Super League meeting in the Atanaskovic Hartnell offices in Sydney. He and former Brisbane Broncos chief John Ribot signed up leading Canterbury-Bankstown Bulldogs players on documents which were not legally effective. Murdoch was the Broncos' number one ticket holder.Bronco Magazine 2002 For the year 2001, Murdoch earned a salary of 2.59 million. In June 2005, Murdoch received the Press & Outdoor Advertising "Media Person of The Year" award in Cannes. Murdoch is one of the founding patrons (along with Anthony Pratt (Visy Board), Anthony Pratt, Peter Lowy and Lisa Fox) of an organisation called "Advance", formerly known as the Young Australian Professionals in America. In July 2005, the 33-year-old Murdoch abruptly resigned as an executive at the News Corp. The unexplained departure apparently dashed News Corp. Chief executive Rupert Murdoch's hopes that his son would one day take over as CEO of the global media empire, which includes the Twentieth Century Fox movie studio, the Fox Broadcasting Company, Fox television network, several satellite broadcasters, and newspapers in Britain, Australia, and the United States. Roger Ailes, the chairman of Fox News Channel, was named chairman of News Corp's group of television stations to succeed Murdoch junior. Media speculated that his brother, James Murdoch, then chief executive of UK satellite TV company BSkyB, may succeed Rupert Murdoch. During his time as an executive at News Corp, Murdoch was the Deputy Chief Operating Officer of News Corporation (now 21st Century Fox). He had oversight of HarperCollins and the company's lines of business in Australia, including REA. He also served on the Board of Foxtel and as Chairman of Fox Television stations and was the publisher of the ''
New York Post The ''New York Post'' (sometimes abbreviated as ''NY Post'') is a Conservatism in the United States, conservative-leaning daily newspaper, daily Tabloid (newspaper format), tabloid newspaper in New York City. The ''Post'' also operates NYPost.com ...

New York Post
''. He was appointed to the News Corp board in 1996.


Private investment activities

On leaving News Corp with a twoyear noncompete agreement, Murdoch founded an Australian private investment company, Illyria Pty Ltd., and developed an eclectic mix of investments, with stakes in the Indian Premier League (IPL) cricket team Rajasthan Royals, online DVD rental company Quickflix, toy marketer Funtastic and digital media company Destra Corporation, Destra. On 21 January 2008, Murdoch and James Packer announced that their companies, Illyria and Consolidated Press Holdings would seek to privatise the Australian Securities Exchange, publicly-listed Consolidated Media Holdings. It was expected that the proposed 3.3 billion deal would deliver Murdoch and Packer with private stakes in Foxtel, Fox Sports, and PBL Media, with the latter owning the Nine Network and Australian Consolidated Press, ACP Magazines. Packer eventually decided to sell down his stake in media companies in a series of transactions between 2006 and 2008, and the deal with Murdoch collapsed. In November 2009, Murdoch acquired 50% of Nova Entertainment via Illyria and he became Chairman. In September 2012 Illyria acquired the balance of shares it did not own. In 2010, Packer purchased an 18% stake in Network Ten, quickly offloading half to Murdoch. Both Packer and Murdoch joined the Ten board. In February 2011, Murdoch was appointed acting CEO of Ten Network Holdings after the company's board terminated the contract of CEO Grant Blackley. The following month Packer unexpectedly resigned from the board. In February 2012, the Ten board appointed Murdoch non-executive chairman of Ten Network Holdings. Although Ten was already in some financial difficulties before Murdoch became CEO, by late 2012, on paper Illyria had lost 110 million of the original 150 million invested since 2010. The share price had fallen by about 80% and network profits had dropped by over half. In an attempt to control costs, Ten had reduced employment numbers by 160 people, and the problems were mainly attributed to falling advertising revenues and restructuring at the network. Ten purchased, at three times its original cost, the Australian rights for MasterChef Australia, ''MasterChef'' from the Australian subsidiary of the Shine Group, itself a subsidiary of the News Corpowned 21st Century Fox. On 14 June 2017, Ten went into voluntary administration after Murdoch and fellow shareholder Bruce Gordon (businessman), Bruce Gordon declined to extend the company's credit facility. Two bids were received for Ten; one from Murdoch and Gordon and one from CBS Corporation - Ten's largest creditor. The CBS bid was preferred by both the administrators and creditors. CBS's successful bid meant Murdoch lost his entire investment in the network.


Return to the family fold

In March 2014 Murdoch was appointed as non-executive co-chairman of News Corp. and 21st Century Fox Inc. in a move that was seen as succession planning for the media empire. Murdoch stood aside as Chairman and a Director of Ten Network Holdings. In June 2015 he was named as Executive Chairman of 21st Century Fox. After Fox was acquired by Disney in March 2019, Murdoch was named as the Chairman and CEO of the Fox Corporation.


Personal life

Murdoch married British-born Australian model/actress Sarah O'Hare in 1999. They have two sons, Kalan Alexander, born on 9 November 2004, and Aidan Patrick, born on 6 May 2006; and one daughter, Aerin Elisabeth, named for his sister and grandmother, born on 12 April 2010. Prior to 2003, the Murdochs owned "Berthong", a house in , Sydney, sold to Russell Crowe in 2003. In November 2009, Murdoch purchased "Le Manoir", a mansion in Bellevue Hill, New South Wales, Bellevue Hill for $23 million; and purchased an adjoining property two years later. In 2017 Murdoch and his wife paid 29 million for a large equestrian property in Aspen, Colorado, Aspen, Colorado, that contains a six-bedroom home. In 2018, they purchased the Chartwell Mansion, Chartwell Estate in Los Angeles for an estimated 150 million.


Net worth


Ancestry


See also

* Murdoch family


References

''This article contains content from the defunct wiki, Lists of encyclopedias#Website only, HierarchyPedia, used here under th
GNU Free Documentation License
'


Further reading


Wendy Goldman Rohm
''Murdoch Mission'' (2002). Interviews with various Murdoch family members * Neil Chenoweth ''Virtual Murdoch'' (2001). Mainly about Rupert Murdoch * Paul Barry, ''Rich Kids'', Bantam Books, 2002, * Kirkpatrick, David, "Murdoch Gets a Jewel. Who'll Get His Crown?" ''New York Times'', 28 December 2003. * Milliken, Robert, "Lachlan Murdoch; Heir to the Sun and Sky", ''The Independent'' (London), 7 May 1995. * Pappu, Sridhar, "Lachlan Murdoch, Spiky Punk Heir Right for ''Post''?" ''New York Observer'', 24 November 2003. * Salamon, Julie, "Television: An American Story; A Family That Tried to Be Both Rich and Good", ''New York Times'', 1 October 2000.


External links

* * * * * * * {{DEFAULTSORT:Murdoch, Lachlan 1971 births Living people Murdoch family, Lachlan News Corporation people Businesspeople from London People from Manhattan Phillips Academy alumni Princeton University alumni Indian Premier League franchise owners British media executives British people of Australian descent British emigrants to the United States British people of Estonian descent Businesspeople from Sydney People from Brentwood, Los Angeles Australian billionaires American billionaires British billionaires Australian expatriates in the United States