- 5 hours ago
Category
📺
TVTranscript
00:07WELCOME ONE AND ALL LADIES AND GENTLEMEN TO THE LATE SHOW.
00:10I'M YOUR HOST, STEPHEN COLBERT.
00:13ABOUT TWO HOURS AGO, FOX NEWS SETTLED THEIR DEFAMATION SUIT
00:18WITH DOMINION VOTING SYSTEMS.
00:20DAMN IT!
00:21I WANTED TO SEE RUPERT MODARK PUT HIS HAND ON THE BIBLE
00:24AND BURST INTO FLAMES.
00:312023 WAS ONE OF THE WORST YEARS IN RUPERT'S ENTIRE CAREER.
00:38FOX NEWS SETTLED A LAWSUIT WITH THE DOMINION VOTING MACHINE
00:42COMPANY FOR ALMOST A BILLION DOLLARS.
00:45FOX WAS ALREADY STRAPPED FOR CASH.
00:47TUCKER CARLSON CAN ONLY AFFORD ONE FACIAL EXPRESSION.
00:50DOMINION HAD ACCUSED FOX NEWS OF KNOWINGLY PUSHING FALSE
00:52CONSPIRACY THEORIES ABOUT WHAT FORMER PRESIDENT TRUMP HAD
00:55CLAIMED WERE RIGGED VOTING MACHINES.
00:57SO FOX KNEW THIS WAS ALL BS AND YET THEY WERE HYPING IT TO THEIR
01:02VIEWERS ANYWAY.
01:04DURING THE 2020 PRESIDENTIAL RACE, FOX HOSTS GAVE AIRTIME
01:08TO CONSPIRACY THEORIES ABOUT A STOLEN ELECTION.
01:11THESE FRAUDULENT BALLOTS WILL JUST BE COUNTERED AGAIN.
01:14FOX KNOWS IS TRYING TO SELL THEIR BULLSHIT THAT TRUMP
01:16REALLY WON THE ELECTION.
01:17THE MACHINE RAN AN ALGORITHM THAT SHAVED VOTES FROM TRUMP AND
01:22AWARDED THEM TO BIDEN.
01:23THE JUDGE RULED THAT EVERYTHING FOX AIRD ABOUT DOMINION AND ITS
01:27VOTING MACHINES IN THE 2020 ELECTION WAS FALSE.
01:32THEIR DECISION TO BUY INTO THE BIG LIE CREATED A CREDIBILITY
01:36PROBLEM FOR THE COMPANY AND FOR SHAREHOLDERS.
01:38SO THERE ARE TENSIONS WITHIN THE MURDOCK FAMILY.
01:43LIZ, JAMES, AND PRUE ARE CONCERNED ABOUT THE DIRECTION OF THE
01:48COMPANY UNDER LACHLAN BECAUSE THIS DOMINION VOTING SETTLEMENT
01:51HAPPENED UNDER HIS LEADERSHIP.
01:54AT FOX NEWS, THERE HAS ALWAYS BEEN A PUSH TO THE RIGHT.
01:59BUT NOW THIS IS AN EXISTENTIAL MATTER FOR THE FAMILY.
02:03AN ENORMOUS AMOUNT IS AT STAKE.
02:05I MEAN, THIS IS THE MOST POWERFUL MEDIA EMPLOYEE
02:08EMPIRE IN THE WORLD.
02:10AND IT BEGINS TO PROVOKE A CONVERSATION AMONG THE CHILDREN
02:14ABOUT, WELL, WHAT IS GOING TO HAPPEN WHEN RUPERT DIES?
02:17WHERE DO WE GO FROM HERE?
02:18WHAT WILL HAPPEN WITH THE COMPANIES?
02:23SO JAMES IS PASSING THROUGH LONDON,
02:26AND HE REACHES OUT TO LIZ AND PRUE TO MEET WITH THEM.
02:30IT'S WORTH ACKNOWLEDGING, LACHLAN IS NOT INVITED.
02:36JAMES RESERVES A PRIVATE ROOM INSIDE THE CLARIDGE HOTEL IN LONDON.
02:41AND THAT MEETING BECOMES A SOURCE OF A LOT OF DEBATE
02:46AND A LOT OF CONTROVERSY.
02:48BECAUSE AS THIS IS ALL UNSPOOLING, THERE'S THIS ARTICLE IN THE FINANCIAL TIMES
02:54THAT REALLY SETS LACHLAN OFF.
02:57THERE'S A QUOTE FROM A SOURCE CLOSE TO JAMES THAT SAYS BASICALLY,
03:01WHEN RUPERT DIES, LACHLAN'S OUT.
03:04OF COURSE, THAT FUELS LACHLAN'S PARANOIA.
03:07WHO WAS GOING TO SUCCEED WAITING IN THE WEEK?
03:09THE CHATTER THAT JAMES WILL AFFECT A COUP WITH HIS SISTERS
03:14WAS IN LACHLAN'S EARS DEAFENING.
03:17THE CLEAR INDICATION IS IF JAMES WERE TO SOMEHOW AFFECT A COUP,
03:22HE WOULD CHANGE THE DIRECTION OF FOX AND WOULD TAKE IT TO THE LEFT.
03:27AND THAT'S ALL VERY MUCH IN THE AIR AS THIS MEETING HAPPENS.
03:33SO, AT CLARIDGE'S, LIZ, JAMES, AND PRUE ARE DEFINITELY VENTING
03:37ABOUT LACHLAN, BUT ALL SAY THAT THEY DIDN'T TALK ABOUT GETTING RID OF HIM.
03:42THE MOST MEMORABLE THING ABOUT IT IS LIZ HAS A BEER.
03:47BUT AFTERWARD, PRUE GETS AN ALARMING TEXT FROM LACHLAN
03:51ASKING HER TO CALL HIM.
03:54PRUE IS BESIDE HERSELF.
03:57MAYBE HE'S FOUND OUT ABOUT THEIR MEETING.
03:59AND SHE DOESN'T KNOW WHAT TO SAY.
04:01AND SHE WRITES TO LIZ,
04:04LACHLAN TRYING TO REACH ME.
04:06AND SHE DOES A KIND OF EXPLODING HEAD EMOGY.
04:12BUT AS IT TURNS OUT, HE WAS REACHING OUT TO TELL HER
04:17ABOUT SOME CHANGES AT ONE OF THE COMPANY'S BOARDS.
04:20SO IT WAS ACTUALLY PRETTY INNOCUOUS, BUT STILL, LACHLAN'S VERY UNHAPPY.
04:26HE'S CONSTANTLY REMINDING HIS DAD OR POINTING OUT TO HIS DAD,
04:29LOOK, LOOK, LOOK, THEY'RE PLANNING THE COUP.
04:32RUPERT SPENT HIS ENTIRE LIFETIME BUILDING FOX NEWS AND THE REST OF THE CONSERVATIVE EMPIRE.
04:38SO HE SEES IT AS HIS LEGACY.
04:42AND THERE IS ONLY ONE OF HIS CHILDREN THAT RUPERT TRUSTS WITH THE MURDOCK MEDIA EMPIRE
04:50OPERATING IN THE INTERESTS OF CONSERVATIVE POLITICS.
04:53HE KNOWS LACHLAN WILL ACT AS AN INSTRUMENT OF HIS WILL, EVEN POSTUMOUSLY.
04:58SO RUPERT AND LACHLAN DECIDE, WE'VE GOT TO FIGURE THIS OUT.
05:02AND THUS BEGINS AN AGGRESSIVE PLOT TO TAKE CONTROL OF THE EMPIRE ONCE AND FOR ALL.
05:26RUPERT ALWAYS PORTRAYS HIMSELF AS SOMEONE WHO CAME FROM NOTHING,
05:30WHO BUILT HIS EMPIRE OUT OF NOTHING.
05:33BUT HE GREW UP IN A HOUSE THAT HAD 30 ROOMS.
05:36IT HAD A TOWER, FOUR ACRES OF GARDENS,
05:41A BALLROOM.
05:42THEY HAD TEN SERVANTS.
05:44SO RUPERT WASN'T JUST BORN WITH A SILVER SPOON IN HIS MOUTH.
05:47HE HAD A WHOLE SET OF GOLD CUTLERY.
05:52HIS FATHER, KEITH MURDOCK, WAS THE MOST POWERFUL NEWSPAPER MAN IN AUSTRALIA,
05:57WITH ONE OF THE TOP-SELLING TABLOIDS IN MELBOURNE.
06:00AND RUPERT GREW UP WANTING TO EMULATE HIS FATHER.
06:03THE WAY THAT HIS FATHER MADE MONEY WAS THROUGH A POPULIST MESSAGING APPARATUS.
06:11HE PIONEERS THIS MODERN TABLOID JOURNALISM IN AUSTRALIA.
06:14SNAPPY HEADLINES, COMPETITIONS, SPORT AND CRIME.
06:19HE WAS ALSO A KINGMAKER IN HIS DAY.
06:22HE WAS ABLE TO SEAT AND UNSEAT PRIME MINISTERS.
06:27RUPERT'S BORN IN 1931.
06:29HE'S THE SECOND CHILD.
06:30THE FIRST IS A GIRL.
06:32TWO MORE GIRLS COME AFTER.
06:33RUPERT, AS THE BOY, WAS NATURALLY THE ONE THAT HIS FATHER LOOKED TO TO SUCCEED HIM.
06:38BUT HE WAS NOT GREAT AT SPORTS.
06:41HE WAS NOT PARTICULARLY FOCUSED IN SCHOOL.
06:44HIS HEADMASTER SAID HE WAS THE MOST UNPLEASANT, MOST DIFFICULT PUPLE HE'D EVER TAUGHT.
06:51HE WAS REBELLIOUS, ARROGANED, DIDN'T LIKE AUTHORITY.
06:56SO HE'S A GUY WHO'S GOT A LOT OF PRIVILEGE ABOUT HIM AND HE BEHAVES LIKE THAT.
07:03KEITH HAD SENT HIM TO OXFORD TO RUB SHOULDERS WITH FUTURE INFLUENCES AND MAKE SOMETHING OF HIMSELF.
07:09AND INSTEAD RUPERT WAS DRIVING FAST, GAMBLING, DRINKING, SMOKING, HAVING A GREAT TIME.
07:18SO KEITH MURDOCK WAS NOT CONVINCED THAT RUPERT WAS A GOOD REPRESENTATION OF WHAT THE MURDOCK FAMILY NAME SHOULD EMBODY.
07:31I WAS SLEEPING IN ONE SUNDAY MORNING IN MY FLAT AT BOXFORD WHEN MY TUDOR CAME IN AND WOKE ME
07:36UP AND TOLD ME THAT MY FATHER HAD DIED, ANY MEMORY I REALLY HAVE OF IT IS ONE OF COMPLETE
07:42SHOCK.
07:43RUPERT'S FATHER DIED RATHER ABRUPTLY.
07:47IN HIS WILL, KEITH MURDOCK SAID THAT HE HOPED FOR HIS ONLY SON, KEITH RUPERT MURDOCK, TO HAVE A USEFUL,
07:56ALTRUISTIC, AND FULL LIFE IN NEWSPAPERING AND BROADCASTING, WHICH IS QUITE A CHARGE.
08:03I WAS BURDENED WITH THIS ANXIETY FOR RUPERT, WHO WAS SO VERY YOUNG, AND I DID LONG TO BE ABLE
08:13TO HELP RUPERT TO PROVE WORTHY OF HIS FATHER.
08:20FROM ELIZABETH'S PERSPECTIVE, SHE'S GOT THIS 21-YEAR-OLD SON WHO'S TOTALLY UNPROVEN WHEN IT COMES TO BEING A JOURNALIST,
08:27LET ALONE RUNNING A MEDIA EMPIRE.
08:29AND SO AFTER THE FUNERAL, KEITH MURDOCK'S FORMER COLLEAGUES TAKE CONTROL.
08:34THE EXECUTORS OF HIS ESTATE TALKED TO DAME ELIZABETH INTO SELLING THE BULK OF THE MEDIA BUSINESS THAT KEITH HAD
08:41BUILT UP.
08:42RUPERT IS OUTRAGED. HE BELIEVES THAT THE PEOPLE THAT USED TO WORK FOR HIS FATHER HAVE NOW BETRAYED HIM, AND
08:49HIS INHERITANCE HAS BEEN STOLEN OUT FROM UNDER HIM.
08:52RUPERT CARRIED THIS WITH HIM FOR HIS ENTIRE LIFE. NOT A CHIP, BUT A BOLDER ON HIS SHOULDER.
08:58AND HE SPENDS THE NEXT 45 YEARS GETTING EVEN.
09:09PEOPLE ALWAYS ASK WHAT DRIVES RUPERT. EVERYONE THINKS THAT IT'S MONEY, BUT IT'S REALLY THE GAME.
09:16BY THE MID-90s. RUPERT WAS ON A WINNING STREAK.
09:20THE MURDOCK EMPIRE IS SPRAWLING. IT'S IN THE U.S., U.K., AND AUSTRALIA.
09:27HE HAS 20TH CENTURY FOX, MOVIE STUDIOS, TELEVISION.
09:32HIS ENORMOUS COMMUNICATIONS EMPIRE INCLUDES EVERYTHING FROM SATELLITE COMPANIES TO SOME OF THE BIGGEST NEWSPAPERS IN THE WORLD.
09:39FORBES MAGAZINE ESTIMATES HIS FORTUNE TO BE WORTH $4 BILLION.
09:43RUPERT MURDOCK HAD ALREADY ACQUIRED A VILLAINESS REPUTATION FOR HIS DOWN-MARKET TABLEIDS AND CONSERVATIVE POLITICS.
09:52OUR COMPANY IS A REFLECTION OF MY THINKING, MY CHARACTER AND MY VALUES.
09:58HIS GUIDING LIGHT WAS POKING WHOEVER HE VIEWED AS THE ESTABLISHMENT.
10:04WHEN IT'S GOING WELL, PUSH IT.
10:101996 IS THE MOST IMPORTANT YEAR IN RUPERT MURDOCK'S CAREER.
10:16AND IT'S IMPORTANT FOR TWO WORDS. FOX NEWS.
10:19AS YOU KNOW, FOX HAS HAD A PHENOMENAL GROWTH IN THE LAST FEW YEARS.
10:23AND NOW WE HAVE TO MOVE TO MAKING OURSELVES THE BEST IN NEWS PROGRAMMING.
10:30RUPERT SAW A REAL BUSINESS OPPORTUNITY.
10:32GOOD MORNING AND WELCOME TO MSNBC.
10:34HE SAW ALL OF THE NEWS OPERATIONS FIGHTING FOR THE SAME LEFT OF CENTER AUDIENCE.
10:39AND THERE'S NO REAL CONSERVATIVE VOICE IN THE NEWS.
10:43MURDOCK IS BOWING TO OFFER AN ALTERNATIVE TO WHAT HE CLAIMS IS A LIBERAL BIAS IN THE MEDIA.
10:48RECOGNIZING AN AUDIENCE THAT ISN'T BEING CATERED TO AND SPEAKING TO THEM DIRECTLY.
10:53THIS IS THE MODEL FOR THE MURDOCK MEDIA EMPIRE.
10:56SO RUPERT LAUNCHED FOX NEWS.
10:58WE'VE BEEN VERY LUCKY IN BEING ABLE TO OBTAIN THE SERVICES OF MR. ROGER AILES.
11:06I'D LIKE TO THANK MR. MURDOCK FOR THE KIND WORDS. THANK YOU ALL FOR COMING THIS MORNING.
11:10LIKE RUPER MURDOCK, ROGER AILES WAS DEEP INTO CONSERVATIVE POLITICS.
11:14WE'D LIKE TO RESTORE OBJECTIVITY WHERE WE FIND IT LACKING.
11:19AND WE JUST EXPECT TO DO FINE, BALANCED JOURNALISM.
11:24ROGER AILES IS ONE OF THE SMARTEST PEOPLE I'VE MET. SMARTEST, CANNY.
11:29IT'S LIKE TALKING TO SATAN. LIKE, SATAN'S SMART.
11:33DEPENDS WHO YOU ARE, HOW YOU DESCRIBE THE RELATIONSHIP BETWEEN ROGER AILES AND RUPERT MURDOCK.
11:40THEY ARE EITHER SUPERVILLAINS THAT CAME TOGETHER TO DOMINATE THE WORLD,
11:45OR THEY ARE MUTUAL GENIUSES WHO RECOGNIZE MARKET VALUE.
11:51CONSIDERING HIS CHOICE OF AILES, AND THAT HIS CONSERVATIVE FINGERPRINTS ARE SMUDGED ALL OVER HIS NEWSPAPERS,
11:56MANY ANALYSTS WONDER IF HE WILL USE THE TV NEWS CHANNEL TO SPREAD HIS GOSPEL.
12:02HOW DID IT HAPPEN?
12:03HOW DID TELEVISION NEWS BECOME SO PREDICTABLE AND IN SOME CASES SO BORING?
12:08WELL, WE'RE GOING TO TRY TO BE DIFFERENT.
12:11WE LAUNCHED IN THE FALL OF 1996.
12:14DEBUT OF THE FOX NEWS CHANNEL.
12:15WE WERE SORT OF OUTCASTS, LIKE PIRATES.
12:18AND BEING PART OF THAT OUTSIDER, ANTI-ESTABISHMENT CRUSADE WAS FUN.
12:22CHANDRA LEVY WAS KILLED BY AN APPLAINTANCE WHO WANTED TO...
12:25BUT ONE OF MY FELLOW EDITORS AT CNN SAID,
12:27BE CAREFUL, AILES DOES NOT HAVE THE BEST REPUTATION.
12:31HE HAS THIS PUGNACIOUS SORT OF STYLE, SO HE WAS KNOWN AS A RUTHLESS CHARACTER.
12:37THE FOX NEWS CHANNEL WAS ROGER'S FIEFDOM.
12:40HE HAD A LOT OF LATITUDE AND UNILATERAL CONTROL.
12:45BUT HE FOLLOWED THE PLAYBOOK OF THE OTHER MURDOCK MEDIA PROPERTIES.
12:49IT WAS TAKING THE ETHOS OF THE NEW YORK POST AND BRINGING IT TO A VIBRANT TELEVISION SCREEN.
12:56WHETHER IT WAS AN AMERICAN FLAG OR SPLASHY GRAPHICS, THERE'S SOMETHING TO LOOK AT.
13:02DING. FOX NEWS ALERT. DING.
13:05OVER AND OVER AND OVER.
13:07THEY BELIEVED THAT YOU HAD TO GRAB THE AUDIENCE, THE VIEWER, VISUALLY FIRST.
13:15FOX HIRED PEOPLE WHO WERE GOOD-LOOKING.
13:17MORE MAKEUP, MORE HAIR SPRAY, SHORTER SKIRTS AND HIGHER HEALS.
13:24ROGER ELSE CAME UP WITH THE IDEA OF A TRANSLUCENT DESK,
13:27BECAUSE HE WANTED THE AUDIENCE TO BE ABLE TO SEE THE LEGS OF HIS FEMALE ANCHORS.
13:31GOT RID OF VALEDICTORIANS.
13:32ELSE WANTED AN IMAGE THAT YOU WOULD STOP ON.
13:35AND, YOU KNOW, I DON'T THINK HE WAS WRONG.
13:41THEY REALIZED THAT WHAT THE AMERICAN PUBLIC WANTED ALMOST MORE THAN ANYTHING ELSE
13:47WAS AN ATTRACTIVE YOUNG WOMAN WITH THE OPINIONS OF AN OLD MAN.
13:52AND JUST AS ELSE AND RUPERT MURDOCK ARE LAUNCHING FOX,
13:56A STORY ON THE NATIONAL STAGE BREAKS THROUGH.
14:01THE PRESIDENT'S ON TRIAL.
14:03THE IMPEACHMENT TRIAL OF PRESIDENT CLINTON.
14:05BILL CLINTON STRUNG US ALL ALONG.
14:07IT'S BILL CLINTON'S ALLEGED AFFAIR WITH MONICA LEWINSKI.
14:11AND IT'S CATNIP FOR FOX NEWS' VIEWERS.
14:15CBS NEWS HAS UNCOVERED NEW PICTURES.
14:17NOW, EVERYBODY WAS COVERING THAT STORY,
14:19BUT NO ONE WAS COVERING IT WITH THE SAME KIND OF GLEE THAT FOX WAS.
14:24THIS IS A VERY GOOD DAY FOR A NUMBER OF LAWYERS INVOLVED IN THE MONICA LEWINSKI INVESTIGATION.
14:28WE'RE HITTING A SITTING PRESIDENT, WE'RE HITTING HIM HARD.
14:31HE DEFINITELY LIED.
14:33WE WERE ENCOURAGED TO PLAY BY A DIFFERENT SET OF RULES,
14:35TO GO ALL IN ON A SCANDALOUS, TABLOID KIND OF STORY
14:39MONICA LEWINSKI'S CHANCE TO TURN THE TABLE TO...
14:41WITHOUT THE KIND OF CAREFUL JOURNALISTIC BALANCE THAT HAD PRECEDED YEARS BEFORE.
14:46THE LEWINSKI CASE CHALLENGES ALL OF US.
14:48YOU AND I, THE AMERICAN PEOPLE, WILL HAVE TO RENDER THE FINAL VERDICT.
14:52THAT'S REALLY WHEN FOX NEWS CHANNEL FOUND ITS VOICE, AND THE RATINGS SPIKED.
15:00TONIGHT IT'S WORTH POINTING OUT THAT THE FOX NEWS CHANNEL HAS SUCCEEDED AGAINST ALL ODDS.
15:05IT'S HARD TO IMAGINE THAT THEY COULD HAVE LAUNCHED WITH AS MUCH OF A BANG
15:09IF THEY DIDN'T HAVE THAT STORY TO CHEW ON EVERY SINGLE NIGHT.
15:14FOX NEWS ESTABLISHED YOU CAN MAKE A TON OF MONEY AND GET A HUGE AUDIENCE,
15:18NOT BY DOING STRAIGHT NEWS, BUT BY GIVING PEOPLE WHAT THEY WANT TO HEAR.
15:21FOR ALL YOU KIDS WATCHING AT HOME, SANTA JUST IS WHITE.
15:25YOU KNOW, I MEAN, JESUS WAS A WHITE MAN TOO.
15:28THEY TOOK THIS POPULIST TENDENCY AND PUT IT ON STEROIDS.
15:32MEXICO HAS ANNOUNCED IT WILL PROVIDE UP TO 200,000 SURVIVAL KITS
15:36TO THOSE PLANNING TO ILLEGALLY CROSS THE BORDER INTO THE U.S.
15:42RUPERT SAID IT WAS LIKE PICKING MONEY OFF THE STREET.
15:45HE WAS SHAMELESS ABOUT IT, PROUD OF IT, AND WITH GOOD REASON.
15:50IT MADE HIM PHENOMENALLY WEALTHY AND POWERFUL.
15:56RUPERT MADE VERY CLEAR EARLY ON THAT HE WANTED THIS HUGE MULTINATIONAL
16:02CONGLOMERATE, PUBLICLY TRADED, WILDLY SUCCESSFUL MEDIA COMPANY
16:07TO BE A FAMILY BUSINESS.
16:10WE ALWAYS TALK AS A FAMILY TOGETHER ABOUT BUSINESS.
16:13AND OF COURSE THAT TODAY IS STILL THE CASE.
16:16SO I TALK WITH MY SISTER AND MY BROTHER AND MY DAD ABOUT BUSINESS
16:20ON ALMOST A DAILY BASIS.
16:24WE'RE ALL GIVEN WONDERFUL OPPORTUNITIES.
16:27WE'VE ALSO BEEN VERY MUCH AWARE OF THE FACT THAT THERE'S PRETTY SERIOUS EXPECTATION
16:33IF YOU'RE GIVEN THAT KIND OF OPPORTUNITY THAT YOU BETTER PROVE WHAT YOU'RE DOING.
16:35AS THEY TALK ABOUT IT WITHIN THE FAMILY, HE WASN'T RAISING CHILDREN.
16:39HE WAS RAISING POSSIBLE SUCCESSORS.
16:42AND IT CREATED THIS RIVALRY AMONG THE KIDS.
16:45IT'S LIKE HE'S THROWING BLOOD INTO THE WATER AND LETTING THEM FIGHT IT OUT.
16:50I THINK MY DRIVE COMES FROM THE SAME PLACE THAT MY DAD'S DOES.
16:56THERE'S OBVIOUSLY A SENSE OF COMPETITIVE DRIVE.
16:59AND THERE'S A SENSE OF REAL AMBITION.
17:04IN THE LATE 1990S, ELIZABETH GOES TO WORK FOR HER FATHER AT SKY,
17:10THE MAJOR BRITISH SATELLITE TV CONGLOMERATE.
17:14RUPERT REALLY INSTALLED VERY TOUGH PEOPLE THERE.
17:17IT WAS, LIKE, MACHO AND NASTY AND BELLIGERANT.
17:24WHAT I HEARD FROM PEOPLE WHO WORKED WITH LIZ IS THAT SHE'S LIKE HER DAD.
17:29SHE'S A VERY IDEAS-ORIENTED PERSON.
17:33ELIZABETH HAS A CREATIVE EYE THAT NEITHER OF HER BROTHERS REALLY POSSESS.
17:38IF WE WERE TALKING ABOUT WHAT HER BIG CONTRIBUTION TO THE COMPANY IS,
17:42IT'S THAT SHE SPOTTED, I THINK IT WAS CALLED POP IDOL IN THE UK,
17:46AND SAID TO DAD, I THINK THAT WE NEED THIS SHOW.
17:49AMERICA HAS MADE THEIR DECISION.
17:51AND THEY RENAMED IT AMERICAN IDOL.
17:54KELLY CLUGSTON.
17:56IT WAS TRANSFORMATIVE FOR FOX.
18:00PEOPLE, THEY'RE IMPRESSED BY HER.
18:02SHE HAS SHOWN THAT SHE CAN BUILD AND RUN TV STATIONS.
18:06I THINK SHE THOUGHT THAT ONE DAY SHE MIGHT BE THE CEO, SKY.
18:10I THINK DAD THOUGHT OTHERWISE, PERHAPS BECAUSE SHE WAS A WOMAN, IT WASN'T ENOUGH.
18:15HE TREATS HER AS DISRESPECTFULLY AND AS SEXIST A MANNER AS YOU COULD EXPECT
18:20THAT A PERSON OF HIS GENERATION MIGHT DO.
18:23SHE'S A YOUNG MOTHER WITH TWO KIDS.
18:26AND RUPERT MAKES THE SEXIST UNDERMINING COMMENTS ABOUT HER HAVING CHILDREN
18:30AND HOW SHE NEEDS TO FIGURE OUT WHAT SHE WANTS TO DO WITH HER LIFE.
18:35SHE FEELS SHE'S NOT BEEN GIVEN A CHANCE.
18:38AND SO SHE FAXES A RESIGNATION LETTER TO HER FATHER.
18:43IT'S A CLASSIC MURDOCK MOVE, AND HER FATHER RESPECTS THAT.
18:48I THINK HE WAS A LITTLE SURPRISED THAT I DECIDED TO LEAVE.
18:52BUT I THINK ALSO GREAT PRIDE.
18:54I THINK HE GOT IT.
18:57SHE STARTS HER OWN PRODUCTION COMPANY CALLED SHINE.
19:01SHE'S NOT GIVEN UP HER AMBITIONS, BY ANY MEANS, TO PLAY A PART IN THE COMPANY.
19:05BUT WE'LL HAVE TO SEE HOW THINGS SETTLE DOWN IN HER OWN CAREER.
19:09THERE WERE ALWAYS RUMORS IN THE COMPANY THAT LIZ WAS THE DARK HORSE CANDIDATE
19:16TO BECOME RUPERT'S SUCCESSOR.
19:20AND SHE WAS PLAYING THE LONG GAME, THAT BY BUILDING HER OWN SUCCESSFUL COMPANY OUTSIDE OF THE
19:25MURDOCK Umbrella, THAT ONE DAY SHE WOULD COME BACK AND KILL HER BROTHERS.
19:3525-YEAR-OLD LACHLAN MURDOCK IS TAKING OVER CONTROL OF HIS FATHER'S
19:39AUSTRALIAN OPERATIONS.
19:41BY THE MID TO LATE 90s, LACHLAN IS IN CHARGE OF THE WHOLE OF THE AUSTRALIAN EMPIRE.
19:47HE'S A BIT OF A ROCK STAR, BUT HE'S NOT A JOURNALIST.
19:50HE'S NOT A BUSINESSMAN.
19:52HE'S NOT GOT AN MBA.
19:53THERE SEEMS TO BE A LOT OF FOCUS ON WHO WILL BE RUPERT MURDOCK'S SUCCESSOR.
19:57DO YOU THINK THAT COULD BE YOU OF THE POUR CHILDREN?
19:59OH, I CAN'T THINK THAT FAR AHEAD.
20:02I'LL DO THE BEST JOB I CAN AND WE'LL SEE WHAT'S HAPPENING.
20:05I'M VERY PLEASED ABOUT IT.
20:06THAT WILL BE A TEST.
20:08HE'S NOT INCREDIBLY HIGHLY REGARDED, BUT HE'S GOT GOOD PEOPLE AROUND HIM.
20:13AND THOSE GOOD PEOPLE KNOW THAT IF THEY WANT TO GET IN THE ORGANIZATION,
20:17THEY NEED TO HELP LACHLAN BECAUSE RUPERT IS LOOKING.
20:20THEY'RE AUSTRALIA'S GLAMOROUS GOLDEN COUPLE.
20:23LACHLAN MURDOCK, HEIR TO A MEDIA FORTUNE, AND SARAH, A SUCCESSFUL MODEL,
20:28TV PRESENTER AND ALL-ROUND GREAT OZZIE GIRL.
20:35FIT ENOUGH TO MARRY A SUPERMODEL,
20:37LACHLAN MURDOCK STARTED HIS WEDDING DAY WITH A MORNING RUN.
20:45THE MURDOCK CLAN HAS GATHERED AT THE FAMILY'S PROPERTY NEAR YES FOR WHAT'S BEEN LABELED THE WEDDING OF THE YEAR.
20:51HE'S MARRIED TO SUPERMODEL SARAH O'HARE, AND HE STARTED A FAMILY.
20:58HE'S FABULOUSLY RICH.
21:00THEY ARE LIKE ROYALTY.
21:02HE LOVES IT THERE. HE LOVES THE LIFESTYLE.
21:06HE FEELS LIKE HE IS AT HOME.
21:10BUT IF HE'S TO BE THE NICE SUCCESSOR, IT'S CLEAR THAT LACHLAN HAS TO COME WHERE THE CENTER OF GRAVITY
21:15IS FOR NEWS COOPERATION.
21:17AND THAT'S IN AMERICA.
21:19GOODBYE NETWORK 10 AUSTRALIA AND HELLO NEW YORK.
21:24LACHLAN AND HIS FAMILY MOVES TO NEW YORK AND HE BECOMES AN EXECUTIVE AT NEWS COOPERATION.
21:32HE WAS CLEARLY THE FAVORITE.
21:3425 CENTS FOR THE NEW YORK POST.
21:37HE WAS LEARNING THE WAYS OF THE NEW YORK POST AND THE NEWSPAPER BUSINESS,
21:42WHICH WAS WHAT RUPERT CARED ABOUT MOST, AND HE WAS THE OLDEST SON.
21:47LACHLAN FROM THE VERY BEGINNING REALLY IS THE ONE WHO'S BEING GROOMED AND THE ONE WHO'S BEING GIVEN THE EASIEST
21:53RUN.
21:53AND RUPERT IS DESCRIBING LACHLAN AS THE FIRST AMONG EQUALS.
21:59THAT DOESN'T GO DOWN TOO WELL WITH JAMES.
22:03JAMES WAS RUNNING AN INDEPENDENT HIP-HOP LABEL CALLED RAUKUS RECORDS WITH HIS FRIENDS.
22:08THEY ACTUALLY DISCOVERED SOME OF THE EMERGING HIP-HOP TALENT IN BROOKLYN.
22:14MO'S DEAF.
22:16AND THEY WORKED WITH EMINEME AT ONE POINT.
22:20I THINK JAMES WANTED TO THINK OF HIMSELF AS SOMEONE WHO WAS GOING TO CHART HIS OWN COURSE.
22:26AND HE RESISTED RUPERT'S EFFORTS TO PUT HIM TO WORK IN THE FAMILY BUSINESS.
22:32BUT THERE WAS THIS GRAVITATIONAL PULL FROM RUPERT TO GET JAMES BACK INTO HIS ORBIT.
22:41RUPERT DECIDED TO BUY RAUKUS RECORDS.
22:45I DON'T THINK RUPERT PARTICULARLY CARED FOR THE EMERGING HIP-HOP SCENE.
22:51BUT BUYING THE LABEL WAS AN EASY WAY FOR HIM TO FORCE HIS SON'S HAND AND GET HIM INTO THE
22:58COMPANY.
23:00ALSO, JAMES HAD GROWN UP BELIEVING THAT THE MURDOCH MEDIA EMPIRE WAS THE CENTER OF THE UNIVERSE.
23:08SO WHEN HIS DAD SAID, I WANT YOU TO COME WORK FOR ME, SON, I'M GONNA TRUST YOU WITH THIS,
23:14IT MEANT A LOT.
23:18RUPERT MANAGES TO PUT HIM IN A SUIT AND A TIE AND GET HIS HAIRCUT AND, YOU KNOW, BRING HIM
23:22INTO LINE.
23:25JAMES GOES OVER TO WORK FOR STAR TV IN ASIA.
23:31JAMES IS 27 YEARS OLD AT THIS POINT.
23:34HE'S HAD REALLY NO MEANINGFUL CORPORATE EXPERIENCE.
23:37PEOPLE AT NEWS CORP THOUGHT IT WAS A SUICIDE MISSION.
23:41THERE WAS NO REASON TO BELIEVE THAT A GREEN 27-YEAR-OLD COULD GO TO HONG KONG AND TURN AROUND
23:50A COMPANY THAT HAD LOST, I THINK, IN RECENT YEARS, $100 MILLION.
23:54BUT JAMES, I THINK, WAS EXCITED BY THE CHALLENGE, EXCITED THAT HIS DAD SEEMED TO TRUST HIM, AND EARNESTLY WENT
24:03OUT THERE BELIEVING THAT HE COULD DO BIG THINGS THERE.
24:08JAMES WAS GOING TO HAVE TO SHOW THAT HE COULD PLAY HIS FATHER'S GAME.
24:11HE NEEDED TO PROVE IT TO HIS FATHER, BUT ALSO TO THE WORLD.
24:14THAT MEANT COMPROMISING ON SOME THINGS.
24:16THERE WERE POLITICAL PROTESTS TODAY ON THE ISSUE OF HUMAN RIGHTS.
24:20JAMES IS VERY WILLING TO LOOK THE OTHER WAY WHEN IT COMES TO HUMAN RIGHTS ABUSES IN CHINA.
24:28MURDOCK PULLED OUT OF PUBLISHING THE MEMOIRS OF CHRIS PATTON, THE FORMER GOVERNOR OF HONG KONG AND CRITIC OF THE
24:33CHINESE GOVERNMENT.
24:36THEY MADE HIM EAT SHIT.
24:38THEY MADE HIM GIVE SPEECHES ABOUT HOW YOU HAD TO RESPECT OTHER COUNTRIES' WAYS OF DOING THINGS AND DEMOCRACY WASN'T
24:45ALWAYS THE ANSWER.
24:47THE PRESS DOESN'T NEED TO TALK DOWN TO PEOPLE.
24:49THE PRESS DOESN'T NEED TO EDUCATE.
24:51THE PRESS IS JUST A TOOL.
24:52HE WANTS TO OWN THE IDENTITY OF BEING A MURDOCK AND BEING A KIND OF RUTHLESS BUSINESSMAN.
24:59HIS EARLY ASSIGNMENTS, HE WAS REALLY EAGER TO PROVE HIMSELF TO HIS DAD AND TO BE SEEN AS A GOOD
25:06SOLDIER.
25:09SO JAMES SPEARHEADED THESE EFFORTS.
25:13AND FOR A WHILE IT LOOKS LIKE IT WILL WORK.
25:17BUT CHINA IS A GRAVEYARD FOR A LOT OF WESTERN BUSINESSES.
25:23THE CHINESE COMMUNIST PARTY, THEY JUST PLAYED HIM ALONG.
25:27IT ALL Wound UP NOT DOING ANYTHING FOR HIM OTHER THAN WASTING TIME AND MONEY.
25:35HE IS UNSUCCESSFUL IN OPENING UP CHINA TO THE DEGREE THAT THEY HAD HOPED.
25:42BUT JAMES HAS ALWAYS HAD A PRETTY HIGH OPINION OF HIMSELF.
25:45AND I THINK HE WAS INCREDIBLY COMPETITIVE WITH LACHLAN.
25:47AND SO I DON'T THINK HE EVER GAVE UP.
25:49JAMES, WELCOME TO BOG THE TALK.
25:51THANK YOU SO MUCH, SHAKER. IT'S GREAT TO BE HERE.
25:53HE PIVOTS THE GROWTH STRATEGY TO INDIA,
25:56WHERE HE DEVELOPS A BIG NEW SLATE OF PROGRAMMING,
26:00INCLUDING AN INDIAN VERSION OF WHO WANTS TO BE A MILLIONAIRE,
26:03WHICH BECOMES A NATIONAL SENSATION.
26:05AND BEST OF LUCK TO YOU, NAMIL.
26:07HE ALSO SEES A LOT OF ORGANIZATIONAL MISMANAGEMENT AND CHAOS.
26:14JAMES HAD TO INSTILL A PROFESSIONAL CORPORATE CULTURE.
26:18AND HE, BY ALL ACCOUNTS, SUCCEEDED.
26:22WITHIN, I THINK, TWO YEARS OF HIS TIME,
26:25STAR TURNED A PROFIT IN ASIA.
26:27JAMES ACTUALLY REMEMBERS COMING BACK FOR A BOARD MEETING ONE DAY
26:31AND HAVING ONE OF THE DIRECTORS PULL A MESAI AND SAY,
26:34I DIDN'T THINK YOU HAD IT IN YOU, CONGRATS.
26:41AT THE TIME, BOTH JAMES AND LACHLAN WERE ON THE BOARD FOR NEWS CORP.
26:46AND WHEN THEY WOULD GET IN THE ROOM AT THESE BOARD MEETINGS,
26:49IT WAS AN OPPORTUNITY FOR BOTH OF THEM TO PERFORM FOR THEIR FATHER.
26:54AND I THINK MAYBE IMPLICITLY TO COMPETE WITH EACH OTHER IN FRONT OF THEIR FATHER.
27:01JAMES WOULD COME IN, CHALLENGING EVERY PART OF THEM,
27:04AND THE POINT THAT LACHLAN MADE.
27:06THEY WERE BICKERING A LOT.
27:09AND SOME PEOPLE WHO REMEMBER THOSE MOMENTS
27:12WILL SAY THAT THEY FELT BAD FOR LACHLAN
27:14AND THAT IT WAS AWKWARD FOR EVERYONE INVOLVED.
27:18BUT THE FACT THAT JAMES WAS SUCCEEDING
27:21STARTED A LOT OF SPECULATION INSIDE THE NEWS CORP HEADQUARTERS
27:25ABOUT WHETHER JAMES WOULD ACTUALLY OVERTAKE HIS OLDER BROTHER
27:29TO BECOME THE SUCCESSOR.
27:34LACHLAN, MEANWHILE, HAS BEEN LABORING IN THE CLAUSTROPHOBIC CONFINES
27:39OF THE NEW YORK NEWS CORP HEADQUARTERS WORKING AT FOX NEWS.
27:47HE'S SORT OF AS QUITE LAZY BY SOME PEOPLE,
27:50AS QUITE ARROGANT BY SOME PEOPLE,
27:51AS QUITE PLEASED AT HIMSELF BY SOME PEOPLE.
27:54NOW THAT MAY BE UNFAIR, BUT IT'S A RECURRENT STORY THAT YOU GET.
27:59BUT HIS WORDS CARRIED A CERTAIN AMOUNT OF WEIGHT,
28:03MAYBE A DISPROPORTIONATE AMOUNT OF WEIGHT,
28:06BECAUSE HE WAS THE BOSS'S SON.
28:09AND THERE WERE CERTAIN PEOPLE IN THE COMPANY, LIKE ROGER ALES,
28:14WHO REALLY RESENTED HOW MUCH RESPECT LACHLAN COMMANDED.
28:19THE IMPRESSION AT FOX AT THE TIME WAS THAT THEY WERE BABYSITTING,
28:26AND THEY DID NOT LIKE THAT.
28:29SO, LACHLAN KNEW THAT HE HAD TO PROVE HIMSELF
28:33AT A PRETTY SIGNIFICANT MOMENT FOR FOX NEWS.
28:40AN INCREDIBLE PLANE CRASH INTO THE WORLD TRADE CENTER
28:44HERE AT THE LOWER TIP OF MANHATTAN.
28:46ANOTHER PLANE JUST FLEW INTO THE SECOND TOWER.
28:519-11 AND A TERRORIST ATTACK ON THE UNITED STATES
28:55WAS A PERFECT MOMENT FOR FOX.
28:57YOU'RE EITHER WITH US AGAINST THE TERRORIST OR YOU'RE WITH THE TERRORIST
29:00AGAINST THE TERRORIST.
29:00THEY WERE TAKING ADVANTAGE OF A BROAD FEAR IN THE AMERICAN PUBLIC
29:04AND HARNESSING IT AND RUNNING WITH IT.
29:07ROGER AILES PERSONALLY HAD AN ANTI-MUSLIM BIAS AND THAT ATTITUDE SHOWED UP QUITE
29:14VIVIDLY ON AIR.
29:15PALESTINIANS DANCING IN THE STREET, HOW DID THAT MAKE YOU FEEL?
29:19THAT WAS THE DRUM THAT WE BEAT EVERY DAY, ALL DAY.
29:24IN THE DAYS AFTER 9-11, THERE WAS A PANIC ABOUT ANTHRAX
29:29BEING SENT AROUND TO VARIOUS GOVERNMENT OFFICERS AND MEDIA BUSINESSES.
29:34AS ALL AMERICANS KNOW, RECENT WEEKS HAVE BROUGHT A SECOND WAVE OF TERRORIST ATTACKS UPON
29:39OUR COUNTRY.
29:40DEADLY ANTHRAX SPORES SENT THROUGH THE U.S. MAIL.
29:43IN JUST A WEEK'S TIME, WE HAVE HAD FOUR CONFIRMED CASES OF ANTHRAX, ALL WITH MEDIA CONNECTIONS.
29:52AMERICA HAS ALWAYS STOOD FOR HUMAN FREEDOM.
29:54SO AMID THIS ENVIRONMENT WHERE EVERYONE IS ON HIGH ALERT, THE YEARLY AL SMITH DINNER HOSTS ROGER AILES.
30:04THAT ALSO HAPPENS TO BE THE NIGHT WHEN THEY LEARN THAT AN ENVELOPE FULL OF WHITE POWDER
30:10HAS BEEN SENT TO THE FOX OFFICE.
30:13THE FBI COMES IN, THEY IDENTIFY THAT IT IS ANTHRAX, THEY CLOSE OFF THE NEWSROOM.
30:21LACHLAN IS MANAGING IT UNDER ADVISEMENT FROM THE FBI AS A KIND OF WORKPLACE INCIDENT.
30:28AILES IS LOSING HIS MIND, HE'S, WE'RE UNDER ATTACK, WE'RE UNDER ATTACK.
30:32HE'S FREAKING OUT.
30:33AILES WANTS TO GO NUCLEAR.
30:36HE'S THINKING THIS IS BIG NEWS, AND DIRECTLY AGAINST THE ADVISE OF THE FBI, HE GOES PUBLIC.
30:42FOX NEWS IS UNDER ATTACK.
30:45ANTHRAX SPORES MAILED TO THIS BUILDING WHERE FOX NEWS CHANNEL SITS.
30:51LACHLAN FINDS OUT ABOUT THIS, STORMS DOWNSTAIRS TO CONFRONT AILES DIRECTLY.
30:57WHAT ARE YOU DOING?
30:59LACHLAN TRIES TO CALM AILES DOWN, BUT THEY END UP VERBALLY FIGHTING IN FRONT OF A HUGE NUMBER OF PEOPLE
31:07IN THE OFFICE.
31:08THIS IS NOT DONE TO ROGER AILES.
31:11HE WAS PROBABLY THE ONLY PERSON INSIDE NEWS CORPORATION THAT EVEN RUPERT WAS SCARED OF.
31:17ROGER AILES LETS RUPERT HAVE IT.
31:20I AM NOT GOING TO BE LECTURED BY YOUR CHILDREN.
31:23HE'S FURIOUS.
31:25AND IN THE END, RUPERT BACKS ROGER OVER LACHLAN.
31:31ULTIMATELY, HE'LL GIVE AILES A BRAND NEW CONTRACT.
31:36SO RUPERT BASICALLY SENT THE MESSAGE TO LACHLAN THAT YOU'RE NOT TO CROSS AILES.
31:42YOU'RE SECOND FIDDLE HERE.
31:45LACHLAN IS INCREDIBLY FRUSTRATED, INCREDIBLY INSULTED BY ALL OF IT.
31:51AND ALSO IS STARTING TO REALIZE THAT EVEN THOUGH HE'S SUPPOSED TO BE THE ERA PARENT,
31:56THAT HIS DAD HAS NO INTEREST IN RETIRING ANYTIME SOON.
32:07HOW DOES HAVING A YOUNG FAMILY AGAIN AFFECT YOUR VIEWS ON RETIREMENT?
32:12YOUR OWN RETIREMENT, THAT IS.
32:14OH, IT DELAYS IT FOREVER.
32:17AT THIS POINT, RUPERT AND HIS THIRD WIFE, WENDY DANG MURDOCK, HAVE TWO DAUGHTERS, GRACE AND CHLOE.
32:25THE OTHER CHILDREN WERE NEVER BIG FANS OF WENDY DANG.
32:30THEY WERE SKEPTICAL OF HER.
32:33AND JAMES AND LACHLAN SAW WENDY AS BEING TOUGH ON THEIR DAD.
32:39BUT WENDY WANTED HIM TO KEEP UP WITH HER.
32:46WENDY HAS HIM UNDER A SORT OF REGIMEN.
32:50HE IS ON A STRICT DIET OF GREEN JUICE, AND HE'S NOT ALLOWED TO HAVE DESERT.
32:56HE UNDERGOES HIS MAKE-OVER.
32:58HE DYES HIS HAIR RED.
33:00HE STARTS WEARING A LEATHER JACKET.
33:03RUPERT GOES FROM THE UPPER EAST SIDE, ESTABLISHED STODGINESS, TO DOWNTOWN HIP.
33:09IT'S LIKE THE FOUNTAIN OF YOUTH FOR RUPERT.
33:11AND UNLIKE ANNA, WHO DIDN'T WANT ANYTHING TO DO WITH THE BUSINESS, WENDY WANTED TO KNOW
33:17WHAT WAS GOING ON IN THE COMPANY, AND WAS VERY INTERESTED IN IT.
33:21WENDY WENT EVERYWHERE WITH HIM, AND SHE'S BECOMING ALSO AN ADVISER TO THE COMPANY.
33:27SHE WAS VERY AMBITIOUS, AND SHE HAD A LOT OF HOPES FOR HER TWO DAUGHTERS.
33:33SHE SAYS THAT SHE WANTS HER OWN CHILDREN TO HAVE THE SAME STANDING AS RUPERT'S OTHER CHILDREN.
33:40WHERE DOES THAT STAND TODAY, SUCCESSION?
33:43WELL, THE TWO LITTLE GIRLS ARE TOO YOUNG TO CONSIDER THIS AT THE MOMENT.
33:45DO YOU CONSIDER THEM, YOU KNOW, YOU HAVE SAID THEY'RE ALL MY CHILDREN.
33:49THEY'LL GET TREATED EQUALLY FINANCIALLY.
33:52HE GOES ON CHARLIE ROSE, AND THAT IS HOW HIS OWN CHILDREN LEARN THAT HE IS SLICING UP THE TRUST
34:00AND GIVING HIS TWO YOUNGEST CHILDREN AN EQUAL STAKE IN THE INHERITANCE.
34:07EACH OF THE FOUR ELDER CHILDREN GOT PAID $150 MILLION FOR AGREING TO INCLUDE GRACE AND CHLOE ON THE METTER
34:14FAMILY TRUST.
34:15SO RUPERT'S SIX KIDS HAVE AN EQUAL FINANCIAL STAKE, BUT ONLY THE FOUR ELDEST KIDS HAVE A VOTE.
34:22YOU RAN INTO SOME BOSE SOUL WITHIN THE FAMILY BECAUSE OF THAT DECISION?
34:25WE'VE RESOLVED EVERYTHING VERY HAPPILY.
34:27IN FACT, IT SENTS OFF A BOMB WITH THE OTHER KIDS.
34:31BUT HE DOESN'T APOLOGIZE FOR THIS AND RUNS ROUGHSHOD OVER THEIR FEELINGS AND THEIR DESIRES.
34:39WE'VE SEEN THIS HIS ENTIRE LIFE.
34:42WHEN RUPERT WANTS SOMETHING, HE WILL STOP AT NOTHING TO GET IT.
34:49OFTEN, THE MURDOCK FAMILY, THEY WOULD COME TOGETHER FOR CHRISTMAS OR THANKSGIVING
34:53ON RUPERT'S SUPER YACHT CALLED MORNING GLORY.
35:00JAMES HAD BEEN MARRIED TO HIS WIFE CATHERINE FOR A WHILE.
35:03AND CATHERINE REMEMBERS THESE LEGENDARY GAMES OF FAMILY MONOPOLY THAT THE MURDOCKS WOULD PLAY.
35:12ONCE SHE CAUGHT RUPERT CHEATING AND CALLED HIM OUT ON IT AND HE JUST KIND OF SMIRKED AND SHRUGGED.
35:21APPARENTLY THIS WAS A COMMON FEATURE OF THEIR FAMILY MONOPOLY GAMES.
35:26AND THAT SORT OF TELLS YOU EVERYTHING YOU NEED TO KNOW ABOUT HIM.
35:31SO AFTER THE CHANGES TO THE TRUST, THE FAMILY IS DIVIDED.
35:36THERE'S A LOT OF TENSION.
35:38AND ESPECIALLY WITH RUPERT'S FAVORITE SUCCESSOR, LACHLAN.
35:43I THINK THERE ARE A LOT OF THINGS GOING ON IN LACHLAN'S HEAD AT THAT POINT.
35:47AND HE WAS STILL FEUDING WITH ROGER ALES.
35:52ALES WANTS TO GET FOX TELEVISION TO BACK A NEW SERIES CALLED CRIMELINE, HOSTED BY GERALDO RIVERA.
36:00LACHLAN SAYS IT'S TOO EXPENSIVE, AND HE BLOCKS IT.
36:05ROGER GOES DIRECTLY TO RUPERT.
36:07RUPERT REASSURES HIM AND SAYS, DON'T WORRY ABOUT THE BOY.
36:12DON'T WORRY ABOUT THE BOY. DO THE SHOW.
36:16IT WAS A CLASSIC MURDOCK MOMENT. BUSINESS OVER FAMILY.
36:20LACHLAN WAS IN THE AIR ON HIS WAY BACK TO AMERICA FROM AUSTRALA.
36:25AND FOUND OUT ABOUT IT WHEN HE LANDED.
36:29HE FELT BETRAYED.
36:32RUPERT HAD BACKED ROGER OVER HIM AGAIN.
36:38LACHLAN HAD TRIED TO BE THE GOOD SON AND THE LOYAL DEPUTY.
36:43BUT EVERY TIME HE TRIED TO MAKE A DECISION THAT ONE OF THE OTHER EXECUTIVES DIDN'T LIKE,
36:49THEY WOULD JUST GO OVER HIS HEAD TO RUPERT.
36:51AND RUPERT WOULD OFTEN OVERRULE LACHLAN.
36:53SO I THINK FOR LACHLAN, THE PROXIMITY TO HIS DAD ENDED UP BEING BAD FOR HIS PLACE IN THE SUCCESSION
37:02RACE.
37:03THERE WAS SOME SURPRISE NEWS OUT OF RUPERT MURDOCK'S NEWS CORP OVERNIGHT,
37:07WITH HIS ELDER SON, LACHLAN, QUITTING HIS JOB AS AN EXECUTIVE.
37:10LACHLAN MURDOCK WILL REMAIN ON THE NEWS CORPORATION BOARD,
37:13BUT PLANS TO RETURN HOME TO AUSTRALIA AND PURSUE AN INDEPENDENT CAREER.
37:18SO NOW, LIZ AND PRUDENCE WERE OUT OF THE RUNNING TO BE AIR APPARENT.
37:23AND AFTER LACHLAN RESIGNS IN A HUFF, MOVES BACK TO AUSTRALIA,
37:30THAT JAMES IS THE ONLY VIABLE SUCCESSOR LEFT.
37:37JAMES MURDOCK HAS BEEN GIVEN A MUCH LARGER ROLE,
37:40OVERSEEING ALL OF NEWS CORP'S EUROPEAN AND ASIAN OPERATIONS.
37:4330-YEAR-OLD JAMES MURDOCK WAS APPOINTED THE NEW CEO OF SKY TWO WEEKS AGO.
37:48EVERYONE WANTS TO SEE THE VALUE OF THE COMPANY GROW,
37:50AND THAT'S WHAT WE'RE GOING TO WORK TO DO.
37:53JAMES' PROMOTION WAS PRETTY CONTROVERSIAL.
37:56THERE WERE HOWLS OF NEPOTISM AND OUTRAGE THAT RUPERT'S RELATIVELY YOUNG SON
38:01WAS GOING TO BE ENTRUSTED WITH THIS CROWN JEWEL OF BRITISH BROADCASTING.
38:08ON TOP OF THE FACT THAT THIS WAS THE JOB THAT LIZ HAD BEEN AFTER.
38:15I'LL TELL YOU THAT JAMES, I MET WITH HIM IN LONDON,
38:18HE WAS SO ARROGANT.
38:20MASTER OF THE UNIVERSE KIND OF VIBE.
38:23AT THIS POINT, EVEN THOUGH HE HASN'T GONE TO BUSINESS SCHOOL,
38:27HE STARTS TALKING LIKE HE WENT TO BUSINESS SCHOOL.
38:30THE ABOLITION OF MEDIA BOUNDARIES IS A TRUMPET CALL TO EXPANSION, TO DO MORE.
38:38JAMES STARTS TO AFFECT A PUBLIC PERSONA THAT A LOT OF PEOPLE AROUND HIM SUSPECTED WAS MODELED AFTER RUPERT.
38:46HE ENCOURAGES ALL OF HIS EMPLOYEES TO CALL THEMSELVES PIRATES.
38:50SO IN HIS LONDON OFFICE, HE HAS A LIFESIZED STATUE OF DARTH VADER,
38:57AND TALKS ABOUT THEM RUNNING THE DEATH STAR.
39:01HE IS A GOOD AMBASSADOR FOR HIS FATHER, AND HE'S ALSO MAKING THE CASE THAT I CAN BE THE BRASH
39:07DISRUPTOR.
39:07I CAN BE THE BOLD NEW FORCE, JUST AS YOU ONCE WERE.
39:13THE IRONY IS THAT THE MORE HE SEEMED TO ACT LIKE RUPERT, THE MORE RUPERT FELT ALIENATED BY JAMES.
39:25JAMES BEGINS TO CULTIVATE HIS OWN INNER CIRCLE.
39:29HE STARTS DINING WITH PRIME MINISTERS AND COZYING UP TO THE LIBERAL, RESPECTABLE ESTABLISHMENT.
39:35HE WANTED TO MODERNIZE AND RUN THIS COMPANY BY WHAT HE CONSIDERED TO BE
39:41THE BEST PRACTICES AND STANDARDS.
39:44SO HE WAS GOING TO FIRE THE MORE TOXIC EXECUTIVES AND EMPLOYEES
39:49AND EMPHASIZE HUMAN RESOURCES AND START TO LISTEN TO THE LAWYERS MORE.
39:55ALL OF THIS REALLY RUBBED RUPERT THE WRONG WAY.
39:59HE WAS REALLY SUSPICIOUS OF JAMES TRYING TO COZY UP TO THE ESTABLISHMENT.
40:05IT KIND OF MAKES RUPERT REGRET THAT HE DOESN'T HAVE LACHLAN AROUND.
40:14AFTER BEING FORCED OUT BY ROGER AILES,
40:17LACHLAN IS IN AUSTRALIA WITH HIS TAIL BETWEEN HIS LEGS.
40:21HE WAS STILL ON THE NEWS COOPERATION BOARD.
40:24THE PROFIT MOTIVE IS NOT ONLY FUNDAMENTAL...
40:27BUT HE WAS DOING HIS OWN THING,
40:28LOOKING TO MAKE BIG INVESTMENTS FOR THE COMPANY.
40:31HE WAS KIND OF HUMILIATED, BUT HE STILL WANTS TO EMULATE HIS FATHER.
40:35THE QUESTION IS, HOW GOOD A BUSINESSMAN IS LACHLAN?
40:40ONE OF THE THINGS THAT'S POWERING NEWSPAPERS AT THE TIME IS CLASSIFIED ADS.
40:44BUT IT'S QUITE CLEAR THAT THE NEWSPAPERS ARE FADING,
40:47AND THE INTERNET'S GOING TO TAKE ALL THE ADVERTISING REVENUE,
40:49AND REAL ESTATE ADS IN PARTICULAR.
40:53SO LACHLAN SAYS WE NEED TO GET A SHARE OF THAT.
40:57AND SO WHEN REAL ESTATE.COM COMES ALONG, HE BUYS IT.
41:01THIS IS CLEARLY A GREAT DEAL.
41:03AND IT'S A GREAT DEAL FOR EVERYONE INVOLVED.
41:06IT'S WIN-WIN-WIN.
41:08THE DECISION TO INVEST IN REAL ESTATE.COM.AU
41:11MAKES THE FAMILY BILLIONS OF DOLLARS,
41:14AND IT BECOMES THE MOST VALUABLE PROPERTY IN THE NEWS CORP BUSINESS IN AUSTRALIA.
41:19I THINK THEY ONLY PAID $10 MILLION.
41:21IT'S NOW WORTH MORE THAN A BILLION.
41:24BY TAKING HIMSELF OUT OF THE RUNNING AND MOVING BACK TO AUSTRALIA
41:27TO SET UP HIS OWN SHOP AND START BUILDING HIS OWN LITTLE MEDIA EMPIRE,
41:33LACHLAN BECOMES MORE DESIRABLE TO HIS FATHER AS A SUCCESSOR.
41:38I THINK THAT HIS DAD KIND OF WANTS WHAT HE CAN'T HAVE.
41:42MR. MURDOCK, THE MARKET'S WONDERING ABOUT YOUR SUCCESSION.
41:45YOU SAID THIS WEEK THAT VIRTUALLY YOU'LL DIE IN THE SADDLE,
41:48BUT YOU OBVIOUSLY HAVE TO THINK OF IT.
41:50MR. IT WOULD BE VERY NICE.
41:51IT'S EVERY FATHER'S NATURAL DESIRE TO SEE, I THINK,
41:55HIS CHILDREN FOLLOW HIM IF THEY'RE UP TO IT.
41:57AND WE'LL HAVE TO SEE HOW THEY WORK IT OUT.
42:00I HOPE NOT FIGHT IT OUT.
42:01BUT I HOPE TO BE AROUND FOR A FEW MORE YEARS.
42:07RUPERT IS NOT A PERSON WHO LIKES TO TALK ABOUT HIS DEATH.
42:12BUT NOW HE'S 94 YEARS OLD, AND HE'S CLEARLY PREPARING FOR ONE DAY WHEN HE EVENTUALLY PASSES.
42:21AT THIS POINT, LIZ, JAMES, AND PRUE SHARE CONCERNS ABOUT THE DIRECTION OF THE COMPANY.
42:28GOOD MORNING, MR. MURDOCK.
42:30RUPERT SEES FOX AS HIS LEGACY.
42:33AND HE'S CONVINCED THAT LACHLAN IS THE ONLY ONE THAT WILL CARRY ON WHAT HE BUILT.
42:39AT THE SAME TIME, LACHLAN'S LOOKING OVER HIS SHOULDER, WORRIED THAT AFTER HIS FATHER DIES,
42:45THERE COULD BE A COUP AND HE COULD BE PUSHED ASIDE.
42:48SO RUPERT AND LACHLAN START LOOKING INTO THE MURDOCK FAMILY TRUST.
42:52IF RUPERT DOESN'T GET THE TRUST BUILT AROUND LACHLAN, IT'S OVER.
42:58THEY WANT TO FIGURE OUT, IS THERE A WAY TO POKE A HOLE IN THIS TRUST?
43:04AND WHAT THEY FIND IS THERE ACTUALLY IS A WAY,
43:07AS LONG AS IT WAS SOLELY FOR THE BENEFIT OF ALL OF THE HEIRS.
43:12THE SIMPLEST WAY TO UNDERSTAND IT IS THE TRUST HAD EIGHT VOTES,
43:18FOUR CONTROLLED BY RUPERT, ONE CONTROLLED BY EACH CHILD.
43:21SO RUPERT COULD NEVER BE OUTVOTED, BUT NO CHILD COULD BE IN CONTROL
43:26WHEN RUPERT DIED.
43:27SO RUPERT AND LACHLAN WANT TO CREATE TWO NEW ENTITIES THAT WILL CONTROL THE TRUST.
43:34AND THOSE ENTITIES WILL BE ABLE TO OVERRIDE THE ONE THAT EXISTS CURRENTLY.
43:39THEY'RE KEEPING IT SECRET FROM ALL THE OTHER CHILDREN.
43:43AND THEY'RE GOING TO DO IT UNDER A CRAZY CODENAME, PROJECT FAMILY HARMONY.
43:49YOU HAVE NAMED YOUR PLAN TO TAKE THE VOTING RIGHTS OF THREE CHILDREN AWAY FROM THEM,
43:55PROJECT FAMILY HARMONY.
43:57I MEAN, JUST MIND-BLOWING.
44:02THERE WAS A PERIOD OF A FEW WEEKS, AND THEN JAMES GOT AN INVITATION TO JOIN A ZOOM CALL
44:10FOR A SPECIAL MEETING ON THE FAMILY TRUST.
44:14HE DID NOT KNOW WHAT THIS MEETING WOULD BE ABOUT.
44:17HE HAD NO REASON TO BELIEVE THERE WAS ANY NEED TO MEET ABOUT THE FAMILY TRUST.
44:23JAMES WAS COMPLETELY BLIND-SIGHTED BY THIS.
44:27THEN HIS MANAGING DIRECTOR RECEIVED AN AGENDA.
44:32HE CALLED JAMES AND SAID, YOU NEED TO LOOK AT THIS.
44:37YOUR DAD IS MAKING A MOVE FOR THE ENTIRE EMPIRE.
44:41ABOUT A WEEK AFTER THAT, THE MURDOCK FAMILY GET ON THE ZOOM.
44:48THERE'S A LOT OF TENSION IN THE ROOM.
44:50YOU HAVE JAMES AND HIS TWO SISTERS, PRUDENCE AND LIZ, AND HIS OLDER BROTHER, LACHLAN.
44:57AND YOU HAVE RUPERT SURROUNDED BY A HUNDRED LAWYERS.
45:03HE STARTS JUST KIND OF ROBOTICALLY READING FROM THIS SCRIPT.
45:07HE TELLS THEM, I'M GOING TO CHANGE THE FAMILY TRUST.
45:10YOU'LL STILL HAVE YOUR SHARES, BUT YOU'LL HAVE NO VOTING POWER.
45:14YOU'LL HAVE NO ABILITY TO MAKE DECISIONS.
45:21IT'S JUST GOING TO BE LACHLAN WHO HAS CONTROL.
45:25SO THE MEETING DOES NOT GO PARTICULARLY WELL.
45:27THERE'S SHOUTING, THERE'S YELLING.
45:30IT BECAME VERY EMOTIONAL.
45:32JAMES CAN'T BELIEVE HIS FATHER IS SAYING THIS.
45:36THAT HE WAS WILLING TO DO SOMETHING SO PROVOCATIVE AND SO HARMFUL.
45:41THIS IS WHAT HAD BECOME OF HIS FAMILY.
45:45RUPERT SAYS, YOU WOULD COME IN.
45:47YOU WOULD CHANGE THIS COMPANY.
45:49YOU WOULD TAKE IT TO THE LEFT.
45:51THAT'S THE GOLDEN GOOSE YOU'RE PLAYING WITH.
45:53YOU NEED TO GO ALONG WITH THIS.
45:55IT'S GOOD FOR ALL OF YOU IN SPITE OF YOURSELVES.
45:58WHAT'S NOTABLE IS THAT LACHLAN IS SILENT.
46:01WHEN OF COURSE HE HAD HELPED ARCHITECT THE WHOLE THING.
46:05LIZ CAN'T CONTAIN HERSELF.
46:07SHE SAYS, HOW ARE YOU GOING TO GET CONSENSUS WITH A GUN TO OUR HEADS.
46:11IT WAS BRUTAL.
46:14IT'S TOTAL WAR.
46:45IT'S TOTAL WAR.
46:45IT'S TOTAL WAR.
46:45I DON'T FOREVER.
46:48IT'S TOTAL WAR POSSIBLE.
46:50I THINK YOU'RE Uhm…
47:08OH…
Comments