Insider Finance - Business - Rupert Murdoch's big test

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April 17, 2023

Hello, Insiders. The trial for Dominion Voting Systems’ $1.6 billion defamation lawsuit against Fox News was scheduled to begin today, but as of last night, the trial has been delayed one day amid reports that the media giant is pursuing settlement talks. Today’s big story dives into whether Rupert Murdoch’s media empire can survive another major scandal.

Plus, we’re also looking into the real reason bosses hate work from home, the brutal reality of a road trip in the wrong EV, and new reports on King Charles’ personal wealth. Let’s dive in.

— Nicholas Carlson

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THE LATEST

SpaceX, Netflix, and more

Elon Musk’s SpaceX is set to launch its Starship rocket today. Starship, which is crucial to NASA's return to the moon, is the most powerful rocket ever built. How to watch.
Netflix apologizes over “Love Is Blind” delay. The highly anticipated live reunion episode suffered technical difficulties — and viewers were enraged. Read more.
A prolific pro-Russia propaganda channel is run by a former US Navy officer living in Washington, according to reports. More here.

THE BIG STORY

Murdoch’s big test

David Moir/Reuters

In July 2011, Rupert Murdoch, the billionaire media tycoon, was forced to answer questions from UK lawmakers about claims that his newspapers had illegally hacked into the voicemail boxes of hundreds of celebrities, royals, and ordinary people.

The phone-hacking affair cost Murdoch dearly. In 2011, News Corp abandoned its effort to take over the TV network Sky. One industry publication calculated that News Corp faced about $1.4 billion in costs in connection with the scandal.

Now, two voting-technology companies, Dominion Voting Systems and Smartmatic, want to make another Murdoch media property pay even more for Fox News's role in spreading election denial. Murdoch is once again reputationally and financially exposed.

The phone-hacking scandal shows how Murdoch, now 92, has weathered challenges to his power before. Our senior reporter Jack Newsham breaks down why there’s good reason to believe this isn't the end for Murdoch.

READ THE FULL STORY HERE

TOP READS

WFH battle, EV road trip, & more

Getty; Marianne Ayala/Insider

The real reason so many bosses are freaked out by remote work. Insider's Aki Ito writes that CEOs are ordering everyone back to the office — because they think offices are “hardcore,” while working from home is “soft.” More on that here.
The 10 best jobs for new college graduates. Indeed used salary information, job demand, work experience, and college requirements to find the best jobs for college graduates. Outside sales representative was ranked No. 1. See the full list.
A road trip reveals the brutality of bad EVs. Our reporter, Tim Levin, drove Toyota’s new bZ4X SUV from New York to Washington, D.C., and back — but three hours of the nine-hour drive was spent charging the vehicle.
"My company is making us go back to the office two days a week to boost morale — but no one wants to be there." Insider's Rebecca Knight spoke with a worker whose company, a large US insurer with more than 40,000 workers, is mandating employees return to the office this summer. The worker says it’s actually killing morale. Read the story.
How to reengage if you’ve “quiet quit” from your job. Octavia Goredema, a career coach, shares tips on how you can reframe your mindset to feel motivated in your career once again. Read them here.
King Charles’ personal fortune is hundreds of millions more than the late Queen’s, a report says. Analysis by The Sunday Times shows the King is worth nearly $750 million. An unnamed former advisor told the paper that Charles became financially scrupulous after his divorce from Princess Diana. More here.
A leaked document shows Ukraine's fighter jet fleet is growing, but its weapons to bring down Russian jets are dwindling. Poland received permission to send five MiG-29 fighter jets to Ukraine this week, but they are unlikely to tip the scales in the aerial battle with Russia. Here’s why.

TAKE A LOOK

Schoolhouse renovation

Courtesy of Stacie Grissom and Sean Wilson

A couple ditched NYC to renovate a $175,000 schoolhouse in their Indiana hometown. It's over 100 years old, but they hope to transform it into a spacious, modern 4-bed family house. Look inside.

WATCH THIS

Mushroom Kingdom

How mushrooms grow from spore to ‘shroom. Ashley Enders is a professional mushroom grower from the “Boomer Shroomer” YouTube channel. She shows us how to grow shrooms out of microscopic spores.

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This edition was curated by Nicholas Carlson, and edited by Hallam Bullock, Lisa Ryan, Dave Smith, Jack Sommers, and Jack Robert Stacey. Get in touch: insidertoday@insider.com.

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Insider Finance - Business - Rupert Murdoch's big test

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