Sunday, July 24, 2011

Rosebud.

Finished the first in the late Larsson's trilogy; media tagline "The Wennerström Affair" lingering about despite being well into the second novel. Citizen Kane. 

On the topic of newsworthy affairs of a Germanic-language affinity, The Economist has coined the News Corporation evolving scandal plaguing the aging Rupert Murdoch as "Murdochdämmerung" in their latest article "Last of the moguls," suggesting the Chairman and CEO relinquish his governing duties.


"The media industry used to be full of powerful families. London had the Rothermeres; Los Angeles had the Chandlers. The Hollywood studios began as family outfits. But a combination of regulation and technology has broken media monopolies. ...Mr Murdoch will not be the last builder of a media empire. Michael Bloomberg has created a powerful firm and a political career as mayor of New York, although he has wisely kept the two separate. Proto-moguls like Mexico’s Emilio Azcárraga are appearing in the emerging world. But the era of the global mogul is over. Mr Murdoch would do his shareholders and his family a service if he recognised that, and stepped back."

Murdoch appeared reserved, diffident, and at times nonplus when cross-examined by the parliamentary committee. A sign of weakness out of character for the face of the company and the company itself. Stepping down and injecting fresh blood and perspective into the media conglomerate may be the most sagacious call to action.

Update: 
Consequently, the Leveson Inquiry ensues

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