James Murdoch, who lost the race to brother, Lachlan, to succeed dad, Rupert, as head of the Fox News family business, may have the last laugh.
The Financial Times reports 46-year-old James is looking to invest in liberal-leaning media. He has a $1B warchest gained from the sale of the studio assets of 21stCentury Fox to Walt Disney Co.
In March, James established a holding company, Lupa Systems with offices in New York and Mumbai, to manage his investments.
Look no further, James. You should buy the New York Daily News, which is a shadow of its former self under the ownership of Tribune Publishing.
Real estate mogul Mort Zuckerman sold “New York’s Hometown Paper” to Tribune Publishing, which was then called the silly name of tronc, for $1, plus assumption of liabilities, in 2017. It’s been all downhill since.
The News and Fox’s New York Post were once fierce tabloid competitors. With a shot of James' cash, a revitalized Daily News could once go head-to-head with the Post.
James has been trying to distance himself from the conservative politics of Fox News and the Post, according to the FT. He contributed $2,800 to the presidential campaign of Democrat Pete Buttigieg.
The Daily News would give James a platform in the media capital of the world, just like 89-year-old Rupert used the Post. A bonus: James would compete with Lachlan, who is chairman/CEO of Fox.
His good friend, Jesse Angelo, exited as Post publisher/CEO in January after a 20-year run at the tabloid. He’s a guy who could slide into the News publisher slot under James’ ownership. Editorial talent is also available in the form of the Daily News staffers who were fired by tronc/Tribune.
C’mon James, let’s make New York City a two tabloid town again.