James Murdoch To Invest $1 Billion In Media Companies – Reports
James Murdoch’s compensation more than doubled in fiscal 2018 to $50.3 million — and that was before he got paid a reported $2.2 billion for his stake in 21st Century Fox. Now the cash-flush son of Rupert Murdoch has a new investment plan: According to multiple media reports, he will put about $1 billion toward a new portfolio of unspecified media companies.
Financial Times cited sources close to James Murdoch tonight that said his new three-comma fund could include a long-rumored liberal-leaning news outlet.
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James Murdoch set to invest $1bn in media companies https://t.co/VWhEfLa8aQ
— Financial Times (@FinancialTimes) April 16, 2019
The Times also cited sources as saying that James Murdoch wants some space between himself and the conservative outlets launched and/or run for decades by his father but had yet to decide on how to invest in news media.
The Wall Street Journal, meanwhile, reports tonight that one of James Murdoch’s first new investments via his newly launched holding company, Lupa Systems, will be $5 million in Artists, Writers & Artisans. That’s the venture-backed comics publisher that started in 2018 and is run by Bill Jemas, former publisher and COO of Marvel Enterprises.
WSJ also said that James Murdoch, 46, started Lupa without backing from his father or older brother Lachlan Murdoch. The trio were major shareholders in 21st Century Fox before its $71.3 billion takeover by Disney that closed last month.
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