{"id":1207,"date":"2009-02-23T16:23:03","date_gmt":"2009-02-24T00:23:03","guid":{"rendered":"http:\/\/www.newscorpse.com\/ncWP\/?p=1207"},"modified":"2009-02-23T16:23:03","modified_gmt":"2009-02-24T00:23:03","slug":"peter-chernin-breaking-up-with-rupert-murdoch","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=1207","title":{"rendered":"Peter Chernin Breaking Up With Rupert Murdoch"},"content":{"rendered":"

The most talked about thing on the Fox studio lot this morning, after Slumdog Millionaire’s eight Oscars, has got to be the news that CEO Peter Chernin is heading for the exit<\/a>. Chernin has run the entertainment side of Rupert Murdoch’s empire since 1996, the year Murdoch launched Fox News.<\/p>\n

The Chernin legacy is one of profound accomplishment. He is an old school Hollywood exec who demonstrated his skill as an effective manager in a creative business. He was also at the opposite end of the political spectrum of his boss. Chernin gave generously to Democratic candidates and causes. And he would have to be the person who gets credit for the humor directed at the right on programs like The Simpsons. Of course, he would also have to take the blame for reactionary programs like 24.<\/p>\n

According to reports, Murdoch does not intend to replace Chernin, and will assume much of those responsibilities himself. I would expect that to be a temporary situation. One of the probable reasons for Chernin’s departure is that there is no upward mobility for him at News Corp. Murdoch will be grooming family members for expanded rolls in the future. He needs a successor and he isn’t going outside of his family to find one. So goodbye Chernin.<\/p>\n

This is bad news for News Corp on many levels. Losing an experienced, respected, and connected Hollywood veteran is certain to be troublesome. But even worse is the prospect of Murdoch taking the reins himself. Chernin has had near autonomy running the entertainment group. It is not an area in which Murdoch has much experience or affinity. His focus has always been on his newspapers. And if we were to judge him on the performance of that sector, his future is bleak indeed. The New York Post has lost tens of millions of dollars annually for every year he has owned it. The percentage of the newspaper segment of News Corp is now 19%, the largest piece of the company. And the company is careening toward collapse, having lost about 70% of its market cap in the last year. That is significantly worse than competitors like Time Warner and Disney. Financial analysts are getting nervous<\/a> about News Corp and Murdoch, and their ability to weather these storms.<\/p>\n

The timing of this could not be worse for Murdoch. As the company is trying to stay afloat in one of the worst economic downturns in decades, and while still trying to integrate Dow Jones and the sickly Wall Street Journal into the company, Murdoch now has to divide his attention between his failing publishing interests, his falling stock valuation, and now the helm of the movie and television concerns that Chernin had managed so well. Why should any investor have confidence that Murdoch will succeed at Chernin’s job when he has failed so badly in the newspaper realm he loves so much and has been engaged in for over 50 years? More likely, he will do to the entertainment group what he did to the rest of the company.<\/p>\n

Now if only Roger Ailes would leave Fox News and let Murdoch destroy that too.<\/p>\n","protected":false},"excerpt":{"rendered":"

The most talked about thing on the Fox studio lot this morning, after Slumdog Millionaire’s eight Oscars, has got to be the news that CEO Peter Chernin is heading for the exit. Chernin has run the entertainment side of Rupert Murdoch’s empire since 1996, the year Murdoch launched Fox News. The Chernin legacy is one […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[33,516,30],"class_list":["post-1207","post","type-post","status-publish","format-standard","hentry","category-general","tag-fox-news","tag-peter-chernin","tag-rupert-murdoch"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-jt","jetpack-related-posts":[{"id":432,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=432","url_meta":{"origin":1207,"position":0},"title":"Big Media: We Are The Sioux Nation – Google Is Custer","author":"Mark NC","date":"5\/9\/2007","format":false,"excerpt":"As the giant multi-national media conglomerates continue to grow, they are becoming even more brazen in their ambition and arrogance. Rupert Murdoch's News Corp., in the midst of a proposed acquisition of Dow Jones, doesn't intend to slow down. The president of Fox Entertainment, Peter Chernin, spoke at the National\u2026","rel":"","context":"In "Big Media"","block_context":{"text":"Big Media","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=12"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":602,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=602","url_meta":{"origin":1207,"position":1},"title":"TV Guide Says Fox News Is NOT News","author":"Mark NC","date":"9\/14\/2007","format":false,"excerpt":"The debate over whether Fox News is a legitimate news enterprise has seized many in the press and academia. But the transparently partisan presentation in their reporting should make for a short and dull debate. Now, an uncharacteristically honest depiction of Fox News can found in an unlikely place. TV\u2026","rel":"","context":"In "Free Press"","block_context":{"text":"Free Press","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=14"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37694,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=37694","url_meta":{"origin":1207,"position":2},"title":"Trump Invites His Boss (Fox News CEO Rupert Murdoch) to State Dinner with Macron","author":"Mark NC","date":"4\/24\/2018","format":false,"excerpt":"Tuesday evening at the White House, Donald Trump will host his first state dinner. The guest of honor will be French President Emmanuel Macron. The rest of the guest list is apparently a state secret because the White House is refusing to release it in advance. However, the identity of\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Rupert Murdoch","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-murdoch-bitch.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-murdoch-bitch.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-murdoch-bitch.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":27939,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=27939","url_meta":{"origin":1207,"position":3},"title":"Clinton Cash: The Untold Story Of How Bill And Hillary Help Make Rupert Murdoch Rich","author":"Mark NC","date":"5\/6\/2015","format":false,"excerpt":"Tuesday saw the official release of Peter Schweizer's latest foray into sloppy and dishonest pseudo-journalism, Clinton Cash. Even before the book hit the shelves it was widely debunked by more reputable analysts who found numerous errors, unsupported speculations, and outright inventions. Even Schweizer himself was forced to acknowledge that some\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Clinton Cash","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/clinton-cash-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/clinton-cash-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/clinton-cash-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/clinton-cash-1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":3188,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=3188","url_meta":{"origin":1207,"position":4},"title":"The ADL Must Revoke Rupert Murdoch’s Award","author":"Mark NC","date":"11\/11\/2010","format":false,"excerpt":"In light of the brazen anti-Semitism displayed throughout Glenn Beck's special programs attacking George Soros this week, the Anti-Defamation League must now answer for their tribute to Beck's employer, Rupert Murdoch. Last month the ADL gave Murdoch their International Leadership Award citing \"his commitment to promoting respect and speaking out\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4886,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=4886","url_meta":{"origin":1207,"position":5},"title":"What If Rupert Murdoch Had Never Been Born?","author":"Mark NC","date":"7\/13\/2011","format":false,"excerpt":"Inspired by the classic film \"It's A Wonderful Life,\" British comics Stephen Fry and Hugh Laurie take a look at the world if Rupert Murdoch had never been born: Click here to call on Congress to investigate News Corp\u2019s hacking practices and whether they are doing it in the U.S.\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Wonderful Fox-Free Life","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/wonderful-fox-free-life.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/wonderful-fox-free-life.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/wonderful-fox-free-life.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/1207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1207"}],"version-history":[{"count":0,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/1207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}