Lachlan Murdoch: The Media Heir Apparent Faces a Digital Dilemma

Lachlan Murdoch is now at the helm of a media empire that his father, Rupert, built from the ground up. This empire includes Fox Corp. , which is home to Fox News, Fox Broadcasting, and Fox Sports. These divisions are the main sources of profit for the Murdoch family business. Newspapers are not Lachlan's passion. He sees himself as a forward-thinking media mogul, not someone stuck in the past. Fox Corp. is in a strong financial position, with plenty of cash, low debt, and a solid stock price. However, Fox News Channel, the most-watched cable news network in the U. S. , is crucial to the company's success. It contributes over 70% of Fox Corp. 's pre-tax profit. But cable TV is old news, and the average Fox News viewer is 68 years old. Lachlan has shown he can make smart moves, like buying the streaming service Tubi for $440 million. He also played a key role in the $52 billion sale of 21st Century Fox to Disney in 2019. He has dealt with some tough situations, like the firing of Fox News founder Roger Ailes and the settlement of the Dominion Voting lawsuit for $787 million.Unlike his father, Lachlan may not have the same political influence. Rupert Murdoch loved his newspapers because they gave him power in the political world. Lachlan will need to mend fences with President Trump, but he doesn't have the long-standing relationship his father does. The big challenge for Lachlan is competition from new media and tech giants. Companies like Amazon, Meta, and YouTube TV are all vying for a piece of the media pie. One rival to watch is David Ellison, son of Oracle founder Larry Ellison. David recently took over Paramount Global and is eyeing Warner Bros. Discovery. He's also been making moves to steer CBS to the right, hiring a Republican ombudsman to keep liberal bias out of CBS News. Lachlan Murdoch's path forward is unclear. He may chart a different course, but no one knows where he's headed yet.