Business

Dec 15, 2017

Murdoch goes back to the future to distract from his declining legacy

Rupert Murdoch's spin is in overdrive as he tries to justify the Fox-Disney sale as anything but what it is: a necessary deal to save a falling company.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

Rupert Murdoch says he is “pivoting at a pivotal moment” in the US$52.4 billion (A$68 billion all paper) carve up of 21st Century Fox and asset sale to rival Disney. “We are paving the way for a new Fox and a transformed Disney to chart a course across a broad frontier of opportunity," he said. "I know a lot of you are wondering: Why did the Murdochs come to such a momentous decision? Are we retreating? Absolutely no, we are pivoting at a pivotal moment."

Gobbledygook from a master of spin and double speak. Remember, this is the second split in the empire in four and a half years. We all remember the Murdochian enthusiasm for the brave new world of 2013 dismemberment. The reality is that this split is a retreat -- a sort of back-to-the-future moment for the family and its 86-year-old patriarch. 

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