James Murdoch has purchased a managing stake in the business that produces the Tribeca Film Festival. The move means that he will now be partnering with Hollywood acting professional Robert De Niro and his producing partner Jane Rosenthal, two of Hollywood’s most vocal liberal voices. It is a long way off from his days at Fox News, a company that he had been expected to take over a few years ago just. Murdoch’s Lupa Systems bought its stake in Tribeca Enterprises in the Madison Square Garden Company, festival co-founder Craig Hatkoff, and other investors. We are excited about dealing with Bob and Jane to help grow the initial Tribeca brand,’ said Murdoch.
When Tribeca was founded after 9/11, they brought collectively a significant creative community to embark on a mission-driven business with civic impact and support for storytellers at its core. The co-founder and CEO of Attention Capital, Joe Marchese, will also be an integral part of the new team. Tribeca Enterprises operates a network of entertainment businesses including the Tribeca Film Festival; the Tribeca TV Festival; and its own branded entertainment creation arm, Tribeca Studios.
Lupa is the private investment company founded by Murdoch in March. Rupert Murdoch designed his companies to advantage his family, making sure that he and his children experienced control always, and therefore his years and children to follow would be taking care of economically. A very important factor Murdoch has not left his children with however is an idea for future years of his media empire, refusing to officially name an heir despite making no secret of his preferred child.
It is not his oldest child Prudence or another in line Elisabeth, that has found incredible success outside the family business in emerging press markets. It isn’t James, the son that has stood by his side for many years and weathered the fallout from the 2011 hacking scandal at News of the World and the 2016 sexual assault scandal at Fox News. It really is Lachlan, Murdoch’s oldest kid, who’s the ‘golden child’ according to multiple sources.
And the empire looks to be his for the taking – but it is not clear if he could be interested in the job. The family company and its future were the focus of a New York Times piece this year that provided a detailed look at the mogul’s two sons while completely ignoring the lives and achievements of his four daughters. By some accounts, Murdoch’s heirs are actually battling behind the scenes for control of the empire, with the two top contenders appearing to be his sons Lachlan and Wayne.
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The brothers have had a tumultuous relationship over the years, which had become more frayed than ever before of recent after Lachlan was marketed over his young brother by their dad, despite James’ loyalty to the family company. Others claim however that most of the children have soured on the notion of taking over from their father.
The oldest is Prudence, who’s Murdoch’s only child with his first wife, Australian model Patricia Booker. She has kept various positions in her father’s companies however now lives in Australia where she is largely focused on raising her three children. Prue as she is called by her family, has made it clear that she actually is not thinking about taking the reins and didn’t even attend university after graduating from Dalton in New York.