Latest news with #JamesMurdoch
Yahoo
6 days ago
- Business
- Yahoo
"What it means to be a partisan centrist": At WelcomeFest, a billionaire-backed vision for Democrats
Centrist Democrats are trying to replicate the movement politics that drive the progressive wing of the party, but it's not clear that the party's moderates — boosted by billionaire donors — can build the same sort of grassroots support that has driven more left-wing campaigns. A political consultant and co-founder of the Welcome Party, Lauren Harper Pope, told Salon that 'WelcomeFest,' kicking off Wednesday in Washington, D.C., is the 'largest public gathering of centrist Democrats.' The goal, she said, is to seek 'advice from Democrats who overperformed this cycle' and discuss "what it means to be a partisan centrist." 'We respect the very robust and multifaceted effort on the progressive faction of the party over the last few years. They had a lot of clear coherency behind it, and there was a lot of action,' Harper Pope told Salon. 'We are essentially just trying to emulate that faction of the party.' The 2025 event, the theme of which is 'responsibility to win,' features elected Democrats such as Sen. Elissa Slotkin, D-Mich., Rep. Jake Auchincloss, D-Mass., and Rep. Marie Gluesenkamp Perez, D-Wash. The event also includes some notable figures from the party, like Adam Jentleson, Sen. John Fetterman's, D-Penn., former chief of staff; Derek Thompson, a columnist at The Atlantic and co-author of 'Abundance'; and Matt Yglesias, proprietor of 'Slow Boring' on Substack. Harper Pope described the Welcome Party and an associated PAC as an attempt to organize and support centrists in the Democratic Party, mirroring efforts by those on the more left-leaning side of the party. In terms of strategy, Harper Pope described a formation similar to that of the Justice Democrats, except instead of supporting progressives, the Welcome Party would support centrists. And, instead of putting up primary challengers against incumbents in deep blue districts, the Welcome Party would support candidates in purple districts where they think a more liberal candidate, who might prevail in a Democratic primary, would be at a disadvantage in a general election and might also be a mismatch for the district. Another key point of comparison is the funding behind the groups. While the Justice Democrats PAC received over 25,000 donations in 2024, a cycle when they were not even supporting new candidates, the Welcome PAC received just a few bulk of the PAC's money came from a handful of donors with familiar names, like James Murdoch, the liberal-leaning son of billionaire media mogul Rupert Murdoch. Combined, James Murdoch and his wife, Kathryn Murdoch, donated $2.5 million to the Welcome PAC in 2024, according to FEC filings. Reid Hoffman, the billionaire LinkedIn founder and critic of former Federal Trade Commission Chair Lina Khan, donated $671,000 to Welcome PAC in 2024. Samuel Walton, the grandson of Walmart founder Samuel Walton, donated $825,000 to Welcome PAC. Joshua Bekenstein, a co-chairman of Bain Capital, alongside his wife, Anita Bekenstein, donated a collective $375,000. Harper Pope said the goal, shared by centrist think tanks like Third Way, is to win by meeting voters where they are. A recent Gallup poll found that 45% of Democrats and Democratic-leaning moderates want the party to move toward the center. 'We want to be representative of the party overall, and I think the majority of those voters are people who are less progressive,' Harper Pope told Salon. 'If the centrist faction of the Democratic party can be strong, robust and vibrant, it can help us not only win more elections but also help us have the liberal democracy we aspire to.'
The Independent
27-05-2025
- Business
- The Independent
Murdochs ‘obsessed' with Succession series because family likeness was ‘uncanny', insider claims
The Murdoch family became 'obsessed' with the TV drama Succession, an insider has claimed, when 'uncanny' similarities were spotted between the show and the clan's real-life. Members of the family are even said to have believed someone from within its ranks had been leaking information to writers of the HBO series, as it imitated reality so closely at times. McKay Coppins, the journalist behind the shocking and rare interview with James Murdoch published earlier this year that revealed what life as Rupert Murdoch's son is really like, made the claims at the Hay Festival in Wales on Tuesday, which The Independent is once again partnering with. When asked by an audience member whether he knew if the family had watched Succession, Mr Coppins said: 'It was one of the very first questions I asked James, actually.' He added: 'As I would eventually learn, the Murdoch family is, actually, obsessed with Succession. 'They're particularly obsessed with who was leaking to the show's writers. They all were convinced that somebody must've been feeding the show's writers stories because there were scenes that were too uncannily true to life. 'James watched the first episode and found it too difficult to watch. Kathryn, his wife, has seen more. Liz, his sister, has watched all of them.' Speaking to Guto Harri, former communications director for Murdoch's News International, at the event, Mr Coppins went on to say the siblings had different beliefs about who was leaking information - with theories ranging from each other to former partners. He said: 'I finally just went to Jesse Armstrong, the creator of the show, and asked him, 'did you have a mole in the Murdoch family?' 'He laughed and said 'no, but I'm aware this has become a psychodrama for the Murdoch family.'' The future of Murdoch's sprawling media empire, which includes Fox News, The Wall Street Journal, and UK outlets such as The Sun and The Times, has captivated public attention in recent years. It has provided partial inspiration for the acclaimed drama, which culminates with a right-wing media tycoon's family grappling with the fallout of his death. In an article published in February in The Atlantic, Murdoch's youngest son, James, laid bare remarkable details about the real-life succession drama within the Murdoch family. The article's publication came soon after the patriarch lost his legal battle to ensure his eldest son, the more right-leaning Lachlan, would control the family trust after his death. Hay Festival, which is spread over 11 days, is set in Hay-on-Wye, the idyllic and picturesque 'Town of Books'. The lineup includes Salman Rushdie, Michael Sheen, Jameela Jamil, and more. The Independent has partnered with the festival once again to host a series of morning panels titled The News Review, where our journalists will explore current affairs with leading figures from politics, science, the arts and comedy every morning.
Economic Times
17-05-2025
- Business
- Economic Times
Dailyhunt parent VerSe to lay off 350 employees this month in push for profitability
Dailyhunt parent VerSe Innovation is laying off 350 employees this month as part of a broader strategy to accelerate investments in artificial intelligence (AI) and streamline drive this strategic transformation, VerSe will utilise AI for automating several manual processes to 'increase operational efficiency', the Bengaluru-based company said in a statement on initiatives are aimed at helping the company turn profitable by the end of this financial year. VerSe joins other content-led startups that have cut workforces this year. This includes Google-backed vernacular media platform ShareChat, which laid off 5% of its staff in January, and Lightspeed-backed Pocket FM that let go of 75 employees amid a push for profitability. 'VerSe Innovation has been undergoing a strategic transformation to build a more agile, focussed, and future-ready organisation…To build a more future-ready organisation where talent is cross-leveraged across business units and resources are directed towards growth segments, the company will streamline its workforce by approximately 350 roles this month,' the company said. 'Building on this momentum, VerSe Innovation projects over 75% revenue growth in FY25, outpacing the anticipated 10-15% growth rate of the Indian digital advertising sector,' it said. 'Operational and structural efficiencies and a focus on growth drivers are actions directed to make the company profitable by the end of this fiscal year.' The development was first reported by digital publication current layoffs come two and a half years after the company laid off 150 employees as a cost-cutting FY24, VerSe's operating revenue fell 6.7% to Rs 1,029 crore. The company however narrowed its net loss by 54% to Rs 889 crore. Last month, Deloitte flagged certain internal control weaknesses in VerSe's FY24 audit report. The auditor also noted that these material weaknesses did not impact its opinion on the consolidated financials. VerSe is backed by Canada Pension Plan Investment Board (CPPIB), Ontario Teachers' Pension Fund, James Murdoch's private investment firm Lupa Systems, and Z47 (formerly Matrix Partners). It has raised over $2 billion in funding since inception. VerSe last raised $805 million in a funding round led by CPPIB, valuing the company at $5 billion. In addition to news aggregator platform Dailyhunt, VerSe also runs short video app Josh, which was launched in 2020 after the Indian government banned Chinese social media company TikTok in the country.
Time of India
17-05-2025
- Business
- Time of India
Dailyhunt parent VerSe to lay off 350 employees this month in push for profitability
Dailyhunt parent VerSe Innovation is laying off 350 employees this month as it plans to accelerate investments in artificial intelligence (AI) and streamline operations, it said on Saturday. As part of this strategic transformation, the company will use AI to automate several manual processes to 'increase operational efficiency', according to a press statement. The Bengaluru-based company is taking these steps to achieve profitability by the end of this financial year. With these layoffs, VerSe Innovation joins other content-led startups that have reduced their headcount this year. This includes Google-backed vernacular media platform ShareChat, which laid off 5% of its workforce in January , and Lightspeed-backed Pocket FM that let go of 75 employees amid a push for profitability. 'VerSe Innovation has been undergoing a strategic transformation to build a more agile, focussed, and future-ready organisation…To build a more future-ready organisation where talent is cross-leveraged across business units and resources are directed towards growth segments, the company will streamline its workforce by approximately 350 roles this month,' it said. Live Events 'Building on this momentum, VerSe Innovation projects over 75% revenue growth in FY25, outpacing the anticipated 10-15% growth rate of the Indian digital advertising sector,' the company said. 'Operational and structural efficiencies and a focus on growth drivers are actions directed to make the company profitable by the end of this fiscal year.' Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The development was first reported by digital publication Entrackr. The current layoffs come two and a half years after the company had to let go of 150 employees as a cost-cutting measure. In the financial year 2024, VerSe Innovation's operating revenue stood at Rs 1,029 crore, down 6.7% from Rs 1,104 crore in FY23. The net loss for FY24 dropped 54% to Rs 889 crore. Last month, VerSe Innovation's auditor had flagged certain internal control weaknesses during the company's audit report for fiscal 2024. In its audit report, Deloitte also said that these material weaknesses did not impact its opinion on the consolidated financials. VerSe is backed by Canada Pension Plan Investment Board (CPPIB), Ontario Teachers' Pension Fund, James Murdoch's private investment firm Lupa Systems, and Z47 (formerly Matrix Partners) and has raised over $2 billion in funding since its inception. It had last raised $805 million in a funding round led by CPPIB, valuing the company at $5 billion. In addition to the news aggregator platform Dailyhunt, Verse Innovation also runs the short video app Josh, which was launched in 2020 after the central government banned Chinese social media company TikTok's operations in India.
Yahoo
07-05-2025
- Business
- Yahoo
Hearing may give glimpse of spat over Murdoch empire
A hearing before Nevada's high court could provide the first public window into a secretive legal dispute over who will control Rupert Murdoch's powerful media empire after he dies. The case has been unfolding behind closed doors in state court in Reno, with most documents under seal. But reporting by The New York Times, which said it obtained some of the documents, revealed Murdoch's efforts to keep just one of his sons, Lachlan, in charge and ensure that Fox News maintains its conservative editorial slant. Media outlets including the Times and The Associated Press are asking the Nevada Supreme Court to unseal the case and make future hearings public. The court is scheduled to hear arguments in the afternoon in Carson City, the capital. James Murdoch (right) has squared off with father Rupert and brother Lachlan over the family trust. (AP PHOTO) Murdoch's media empire, which also includes The Wall Street Journal and New York Post, spans continents and helped to shape modern American politics. Lachlan Murdoch has been the head of Fox News and News Corp since his father stepped down in 2023. The issue at the centre of the case is Rupert Murdoch's family trust, which after his death would divide control of the company equally among four of his children - Lachlan, Prudence, Elisabeth and James. Irrevocable trusts are typically used to limit estate taxes, among other reasons, and can't be changed without permission from the beneficiaries or via a court order. Rupert Murdoch has attempted to alter the trust, however, and Prudence, Elisabeth and James have united to try to stop that. James and Elisabeth are both known to have less conservative political views than their father or brother, potentially complicating the media mogul's desire to keep Fox News's political tone. The dispute has had many twists and turns, including a probate commissioner ruling against Rupert Murdoch in December. In a 96-page opinion, the commissioner characterised the plan to change the trust as a "carefully crafted charade" to "permanently cement Lachlan Murdoch's executive roles" inside the empire "regardless of the impacts such control would have over the companies or the beneficiaries" of the family trust, according to the Times. Adam Streisand, a lawyer for Rupert Murdoch, told the newspaper at the time that they were disappointed with the ruling and intended to appeal. Another evidentiary hearing is scheduled for May.
