Keeping it Publicly in the Family

Rupert Murdoch has recently been setting up his two sons to take over his media empire of News Corp. Both Lachlan, 42, and James, 41, will hold higher executive and leadership positions in the company, proving that publicly traded and owned organizations can still be run quite privately.

Throughout the history of news organizations, we have seen the transition from privately owned companies to public, giving the public the ability to “own” shares in the company. If News Corp is doing well, then Joe Schmo is also. However, when I hear that a company is public, it makes me wonder how company positions are chosen as well and raises the question, are the positions really open to the public?

I wonder if Murdoch interviewed anyone qualified for the positions, or just wanted to keep it in the family for the next generations to make sure that the family name stayed synonymous of News Corp. While he does have Chase Carey still involved closely with the company, I have to question how public it truly is.

With the Internet becoming a large aspect of storytelling, and its affect over television ratings for FOX and other stations will not stop anytime soon, News Corp. should take a more public opportunity approach for its company. As a consumer and a media nut, I would like to personally see a company run that does not bluntly show the family’s personal political, social or economic beliefs on screen. I prefer a newspaper that does not have a conservative slant.

I would just hope that Murdoch, whenever he dies, leaves the opportunity for the younger generation of Murdochs’ to become more liberal and truly publicly owned.