In July 2011, his many enemies were gleefully predicting, once more, that Rupert Murdoch’s career was ruined.

Murdoch, the world’s most successful media tycoon and one of the planet’s most powerful men, looked tired as he sat in front of a British parliamentary inquiry. He was 80 at the time, but he defended his empire and his own integrity, denying that he knew the details of the News of the World phone hacking operation, the scandal that led to the parliamentary investigation. 

The fallout was so severe that it forced Murdoch to shut the paper down. This included the Dublin office of a paper that had made him so many millions in the 42 years he had owned it. 

When British politicians quizzed him on whether he would resign from his position, Murdoch’s reply was blunt: “No.”

Then he was attacked by a member of the public with a pie made out of shaving foam, only to have his then-wife Wendi Deng spring, tiger-like, to his defence. Understandably, the pie became the most memorable moment of his testimony.

Yet Murdoch also said at the time: “I just want to say that I was brought up by a father who was not rich, but who was a great journalist, and he, just before he died, bought a small paper, specifically in his will saying that he was giving me the chance to do good.”

“That just addresses the question of it being a family business. I would love to see my sons and daughters follow if they are interested.”

It was these lines that Sarah Ellison seized upon in a brilliant profile of Murdoch in Vanity Fair at the time. “Among all the hours of testimony that comment was one of the least significant in the eyes of anyone looking for insight into the origins of the phone-hacking scandal,” she noted. “But it was the only comment that mattered to his family – and sounded almost like a plea.”

Twelve years later, Murdoch finally stepped down as the chairman of Fox Corp and News Corp, ending a seven-decade career that saw his business conquer Australia, Europe and the United States. His son Lachlan Murdoch is now officially his successor as the sole chairman of News Corp and both CEO and chair of Fox. 

The impact of the Murdoch on politics, popular culture, and journalism has been immense. He changed the world of media, of sport, of public discourse. His legacy and influence will be contested; he has long been a divisive figure. But no one can doubt his influence.

Last March, Irish entrepreneur and journalist Mark Little, who sold his previous business Storyful to him, said it was hard not to admire aspects of Murdoch. “He is a visionary… Rupert Murdoch has a vision with huge awareness of all of the political dimensions of his life,” Little told me.

“He has done something, for example, with Storyful. Think of all the great journalists that came into Storyful after my watch or at least after the Murdoch acquisition. Storyful today is producing some great journalism, and I see television coverage of events and I see the Storyful logo, that’s still there today because of the acquisition.” 

This is inarguably true with journalists like the New York Times’ Malachy Browne, Kinzen co-founder Aine Kerr, CNN reporter Donie O’Sullivan, investigative journalist Joe Galvin and Vizlegal founder Gavin Sheridan all emerging from that stable. Murdoch is also a major player in the Irish media landscape, even if it is barely a blip in terms of the scale of his interests. 

Last week, the editor of The Sunday Times in Ireland Nóirín Hegarty resigned to take up a position in another company overseas. Under previous editor Frank Fitzgibbon, the paper was agenda-setting, notably exposing scandal after scandal within the FAI and breaking many major business and political stories. 

Hegarty’s reign was only two years, and, like most editors in the world of print, she faced severe cost pressures. Such cost-cutting has consequences. 

Murdoch’s departure comes at a time of heightened pressure on print circulation and advertising revenues. 

Certainly his interests remain significant here, but it will be worth watching whether the group invests more in Ireland, or keeps with its current strategy of ongoing retrenchment. 

Amid that retrenchment, other rivals are investing. Having acquired Independent News and Media, Belgian group Mediahuis has sought to rebuild the titles and recently rebranded the newspapers. It has made a number of small bolt-on acquisitions. 

German-based Bauer Media entered the Irish market through its acquisition of Communicorp and recently added Cork’s Red FM to its portfolio. 

Swedish-headquartered media business Bonnier News recently acquired a “material” minority stake in the Business Post Group, publisher of the Sunday title of the same name.

Will News Corp follow suit or will it continue to manage decline as the tide for newspapers goes out?

As Murdoch leaves, there are lots of unanswered questions about his company’s plans for its Irish operation. However, his imprint on the world of media, and the Irish media, is unquestionable.

*****

Elsewhere last week, Johnny Ward reported on how the much-maligned League of Ireland, home of crumbling stadiums and once-shrinking crowds, is undergoing a revival as Turkish and US investors take a bet on its future. Other have tried, and failed, in the past. Johnny asked if the new breed can succeed.

Francesca reported on an ongoing dispute between the Irish tax authority and the examiner of Mac Interiors over a rescue plan for the fit-out company. The examiner has a plan to save the business but it would involve Revenue taking a massive write-down on debt that was warehoused during the pandemic. It is a test case that will be watched by a host of other companies, and we will continue to track it.

The Cork-based accountancy firm Quintas has a new owner – Xeinadin Group, the British accounting firm. Quintas managing partner Paul O’Connell told me why the deal made sense, and how it came about.

Running a fourth-generation family business as an outsider brings its own set of challenges. As CEO of Maxol, Brian Donaldson has navigated his way to the top and is now driving a dramatically changing business. He talked to Alison in the latest episode of our Family Matters podcast series.