Murdoch's age and what it means

VICTIMS' PLAYBOOK: Jack Shafer is feeling unconvinced by the arguments given by the Murdoch father-son duo. "It's a terrific short-term strategy for the Murdochs and an even better long-term one, just as long as nobody shrinks the hole and traps them." He really needn't be so cynical.

WHAT AGE MEANS FOR MURDOCH: The Wall Street Journal, perhaps in one of the more objective-seeming/disinterested pieces published in the paper, questions the role that Rupert Murdoch's age plays in others' perspective of him; his role in the scandal; and, chiefly, how long he has left at the helm of the company he created. The paper quotes some of the larger shareholders of the company, who say, among other things, that it was 'painful,' he seemed 'like an old man' and out of touch with the company's operations.

The big shareholder said it would be a "very shrewd move" for News Corp. to elevate chief operating officer Chase Carey to the CEO role. While it wouldn't change the control of the company—which rests with the Murdoch family's roughly 40% voting stake—"it would give investors some comfort." An independent member of News Corp.'s board said the board still supported Mr. Murdoch. Thomas Perkins, a well known venture capitalist, said "the board honestly thinks Rupert is a genius and we need him and the company needs him. Our worry is the shareholders at this point," he said.

Perhaps I was wrong about Perkins, who seems to be something of a supporter for Murdoch. One of the more interesting points about the company's strange corporate governance is seen in its dual-class voting structure — a structure common to newspaper companies (I believe the Washington Post Company employs the same sort of scheme) and figurehead-type companies of all kinds (Warren Buffet's Berkshire Hathaway, for example; even Google). It's very difficult at this stage to figure out how all of this will work out, but my bet is that Murdoch's performance was appropriate enough to keep him at the head of the company. As for the visionary aspect? I'd say Murdoch Snr's still dwells in print, whereas James' vision of the global media conglomerate almost certainly lie elsewhere. He'll be around for a while yet, I suspect.