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Succession: Lachlan takes over from Rupert Murdoch at Fox

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Rupert Murdoch, the media mogul who has steered News Corporation for decades, is now passing the reins to his son, Lachlan Murdoch.

It’s a significant transition that marks a new era for the media giant, with Lachlan poised to lead Fox into an ever-evolving media landscape.

The 92-year-old, one of the world’s most influential media barons, made the announcement in an email to his staff.

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles,” he said.

With Rupert Murdoch’s tenure at the helm, Fox Corporation has grown to be a global media powerhouse, encompassing television, film, and digital platforms. Lachlan, who has been a key figure within the company, is well-prepared to continue this legacy of success.

His experience in various leadership roles within the organization, including serving as co-chairman, has positioned him as a natural successor.

Under Lachlan’s leadership, Fox Corporation is expected to focus on digital expansion and adapt to changing consumer preferences. Streaming services, in particular, will be a key area of emphasis, as the company strives to compete with other streaming giants in the market.

Industry moves

This shift towards digital platforms aligns with the broader industry trend, as more viewers opt for online content over traditional cable television.

Lachlan’s vision for Fox also includes further investments in news and sports programming, areas where the company has traditionally excelled. As the media landscape becomes increasingly competitive, maintaining a strong presence in these domains will be crucial.

Mr Murdoch praised Lachlan as a “passionate, principled leader” in a move that solidified him as his successor.

“Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges,” he told staff.

“We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.”

As Rupert Murdoch steps down and Lachlan Murdoch assumes the leadership of Fox Corporation, the media giant is poised for a new chapter.

Lachlan Murdoch congratulated his father on his “remarkable 70-year career”.

“We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted,” Lachlan said.

“We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies.”

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Mysterious drone sightings spark concern in New Jersey

Mysterious drones spotted over New Jersey; officials debate safety and origins, with some citing potential foreign threats.

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Drones of unknown origin have been spotted in New Jersey over the past month, eliciting varying reactions from lawmakers.

The state’s governor insists that the drones are safe, while Congressman Jeff Van Drew suggests they may be part of an Iranian “mothership.”

Recent meetings with Homeland Security officials aimed to address the increasing number of sightings, particularly near military installations and Donald Trump’s golf course.

Drones are lawful in New Jersey but must adhere to local regulations and FAA guidelines.

Reports indicate some of the observed drones are SUV-sized, exceeding typical hobbyist drones.

‘Misidentified planes’

Although there are numerous sightings, officials note that many could be misidentified planes or repeat sightings of the same drone.

Governor Phil Murphy reassured the public that there is no direct threat to safety.

The FBI is gathering information from residents who may have evidence of the drones.

Some officials are advocating for tighter restrictions on drone operations, with one proposing a temporary ban.

Van Drew maintains that there is potential for foreign involvement, despite Pentagon assurances rejecting that possibility.

Legislators have met with DHS and state police to discuss concerns, but clarity on the situation remains limited.

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Trump named Time’s 2024 Person of the Year

Trump named Time’s 2024 Person of the Year, following election win, assassination attempt survival, and felony conviction.

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Donald Trump has been named Time magazine’s Person of the Year for 2024.

This designation follows Trump’s win in the US presidential election and his survival of an assassination attempt, as well as his conviction on 34 counts of falsifying business records.

He is set to be sworn in as the 47th president of the United States on January 20, 2025.

Time’s editor-in-chief, Sam Jacobs, noted that selecting Trump was straightforward, given his significant impact over the past year.

 

Trump expressed gratitude for the honor during a Wall Street event, marking his second selection as Person of the Year, the first being in 2016.

Throughout 2024, Trump experienced notable events, such as the attempted assassination at a Pennsylvania rally, which garnered global media attention.

Additionally, his conviction in May made him the first American president to be labeled a convicted felon, although he has yet to be sentenced.

Upcoming term

After a successful campaign, Trump celebrated his presidential election victory in November, promising to enhance the country during his upcoming term.

With this latest recognition, Trump, who has been featured on Time covers numerous times since his first in 1989, reaffirms his relationship with the publication despite past controversies, including displaying fake covers at his golf clubs.

Trump remains a prominent figure in American politics with his upcoming return to the Oval Office.

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Coalition’s nuclear plan cheaper than Labor’s renewable rollout

Coalition’s nuclear plan to save $263 billion compared to Labor’s renewables, promising cheaper electricity and lower emissions by 2050.

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The Coalition claims its nuclear power plan will save $263 billion compared to Labor’s renewable energy strategy by 2050, resulting in lower electricity costs.

Economic modelling conducted by Frontier Economics estimates the Coalition’s plan, which aims for net zero emissions by 2050, will cost $331 billion.

In contrast, Labor’s renewable energy plan is projected to cost $594 billion according to the modelling.

Opposition Leader Peter Dutton plans to share these findings, stating that the analysis supports their position that Australians will benefit from the Coalition’s approach.

Dutton claims that fewer hidden costs and reduced infrastructure expenses will lead to lower energy prices.

He noted that many advanced economies are increasing their nuclear capabilities and urged Australia to do the same.

Seven plants

The Coalition’s model includes seven nuclear power plants, with renewable energy still providing 54% of the National Electricity Market by 2050 and nuclear contributing 38%.

Labor’s strategy anticipates that 94% of power generation will come from renewable energy by the same year, with 90% of coal-fired power exiting the system by 2034.

However, coal may need to operate longer in the Coalition’s scenario until nuclear power is online.

The Coalition’s plan also suggests a reduced reliance on gas due to a lower number of renewables needing stabilisation.

Dutton committed to constructing and operating seven nuclear plants, with the first expected to be operational as early as 2036.

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