Career
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 that time the Printing / Publishing departments were situated at Surry Hills Sydney, entrusted to a printer named Arthur Violatzis. Together they created a good working relationship. At the end of Lachlan's third month, Rupert Murdoch returned to the U.S taking Lachlan with him. Although trainer and student vowed to keep in touch, they have not contacted or seen each other since.
At the age of 22, Murdoch was appointed general manager of Queensland Newspapers, which publishes The Courier-Mail in Brisbane. 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 since 1995.
Murdoch has been criticised as a "rich brat" for his "poor handling" of Murdoch interests in One.Tel, which lost the empire millions of dollars. In this venture, Murdoch worked with Australian businessman James Packer, the son of Kerry Packer.
Murdoch has a strong 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 Bulldogs players on documents which were not legally effective. Murdoch has been the Broncos' number one ticket holder.
For the year 2001, Murdoch earned a salary of A$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, Peter Lowy and Lisa Fox) of an organisation called "Advance", formerly known as "YAPA" (Young Australian Professionals in America).
After his resignation, Roger Ailes, the chairman of Fox News Channel, was named chairman of News Corp's group of television stations. The abrupt and unexplained departure of the 33-year-old Murdoch 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 television network, several satellite broadcasters, and newspapers in Britain, Australia, and the United States.
In the weeks after his resignation, however, he began a new venture, lodging applications to set up a new Australian company called Illyria Pty Ltd, in which he acts as sole director and secretary.
On 21 January 2008, Murdoch and James Packer announced that their companies, Illyria Pty Ltd and Consolidated Press Holdings would seek to privatise Consolidated Media Holdings which owns holdings in the Nine Network, Foxtel and Australian Consolidated Press.
On 24 January 2008 Murdoch, along with Manoj Badale and Suresh Chellaram under the banner of Emerging Media successfully bid for the Rajasthan Royals franchise in the inaugural Indian Premier League for US$67 million.
In November 2009, Illyria purchased 50% of dmg Radio Australia's interests and Lachlan Murdoch became Chairman. Dmg operates the NOVA radio stations in every mainland capital, Star FM in Gosford, and talk radio station FIVEaa in Adelaide.
In 2010, after James Packer bought a large number of shares in Network Ten, Murdoch approached Packer to buy some of his shares, causing Ten to offer both men seats on their board, an offer which both Murdoch and Packer accepted. In February 2011, Murdoch was appointed acting CEO of Ten Network Holdings after the company's board terminated the contract of CEO Grant Blackley. In February 2012, the Ten board appointed Murdoch non-executive chairman of Ten Network Holdings. Although the network was already in some financial difficulties before Murdoch became CEO, by late 2012 he had lost $110 million of the original $150 million he had invested since 2010. The share price had fallen by about 80% and network profits had dropped by over half. 160 people had also lost their jobs at the network. The problems were mainly attributed to falling advertising revenues and restructuring at the network which Murdoch had overseen. The program Masterchef was also repurchased from the Murdoch family’s Shine production company at three times its original cost.
Read more about this topic: Lachlan Murdoch, Biography
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