tip off

Crikey says: king Rupert rides again (and again)

The big contest is in New York: a crucial debate between Romney and Obama. The no-contest was in LA: Rupert dismissing dissenters with the wave of a wrinkled hand. We’re at both. And then there’s Gillard v Abbott: Bernard Keane says it’s a generational change. Unlike at News Corp.

… the king on his throne, surrounded by courtiers who laugh at his every joke. One by one, his loyal subjects approach and throw themselves at his mercy. Praising his wisdom and kindness, they beg to be heard. The king waves his hand, the courtiers laugh again and the petitioner’s claim is dismissed.”

Such is the rule of one Rupert Keith Murdoch. Paul Barry, sunning himself at News Corporation’s annual general meeting in Los Angeles for Crikey, sums it up well.

Such fables usually turn, of course; a Shakespearean act of revenge and revolution to strip the ageing, complacent king of his crown.

But nobody says boo in this court — even after the year News Corp has faced, dominated by an unprecedented ethics scandal in its UK operations at the heart of the editorial business. At least not the Murdoch clan and its allies, who hold 40% of the voting power. A motion to give all shareholders a vote was quickly dismissed. The annual push to separate Rupert’s roles as both chairman and CEO of the multi-media conglomerate was again snuffed out. The message to frustrated subjects was made clear by the dotty 81-year-old patriarch:

When you buy the stock, you know what the company is. If you don’t like it, don’t buy the stock.”

That is to say, piss off.

Journalists and editors who work for Rupert generally take a pretty dim view of flagrant self-interest and a lack of accountability and transparency in business and government. Quite rightly. The hypocrisy is, once again, stark.

6
  • 1
    Pete from Sydney
    Posted Wednesday, 17 October 2012 at 1:31 pm | Permalink

    the dotty 80 year old? Not sure about that…and clearly he’s correct you can sell your shares if you don’t like it. the 45% you made can be invested in Crikey perhaps

  • 2
    klewso
    Posted Wednesday, 17 October 2012 at 3:22 pm | Permalink

    Did they play Grieg’s “Peer Gynt” when He entered his Hall?

  • 3
    Mike Smith
    Posted Wednesday, 17 October 2012 at 3:27 pm | Permalink

    “When you buy the stock, you know what the company is. If you don’t like it, don’t buy the stock.”

    Ok, Rupert, would you like us to sell the stock? I don’t think you’d enjoy widespread naked short selling on NewsLtd…

  • 4
    klewso
    Posted Wednesday, 17 October 2012 at 5:53 pm | Permalink

    Democracy is for wimps!”

  • 5
    AR
    Posted Wednesday, 17 October 2012 at 7:12 pm | Permalink

    Hypocrisy reigns, not from King Mudorc but the shareholders who lurve the 45% gain whilst decrying the scandalous nature of the organisation from which they benefit.
    As the Mittbot said today in the the debate with BO, “Have you looked at your pension?”
    Few do and even fewer demand that it not be invested in the moist reprehensible stocks, companies which destroy & degrade & diminish the integrity of the planet.

  • 6
    dazza
    Posted Wednesday, 17 October 2012 at 8:46 pm | Permalink

    Should I be surprised the News Ltd journalists are very quite on this one. Why isn’t accountability questioned by these gutless hacks at murdock press? Let’s put these questions to them and let them squirm a little.

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