Lachlan Murdoch
Lachlan's Fifty-Cent Strategery
So the New York Post has now returned to 25 cents, after 10 days of selling for twice the price at newsstands.
And in an article in today's New York Times, Post editor Col Allan referred to the abrupt price drop as “part of a well-planned strategy.”
Strange.
On May 1, Mr. Allan was speaking about a quite different strategy in a phone interview with The Observer.
Mr. Allan was still beaming about the Post’s circulation numbers, which were released the previous day. Bucking the industry trend—yet again—the Post increased circulation, while continuing to beat the rival Daily News.
"Lachlan Murdoch said then that we would increase the price of the paper when we have passed the Daily News,” said Mr. Allan, of the increase.
“We have done that for two periods.”
That strategy had been discussed before—most notably by the Murdoch scion in a 2001 BusinessWeek feature. (That was still years before flying the Rupe’s coop back to Australia).
From the BusinessWeek article:
Lachlan Murdoch refuses to disclose the Post's annual loss—pegged by outsiders at $15 million to $30 million—but acknowledges that it widened when the weekday cover price was halved, to 25 cents, in 2000. It's all part of the plan, says Murdoch, who intends to restore the 50 cents cover price if and when the Post passes the Daily News in circulation. ‘We love the Post, but it's not a hobby,’ he says. ‘We very much care that it make money one day, and that it become as great a business as it is a newspaper.’
So what happened to the Lachlan Murdoch strategy that seemed to finally take effect last week?
A spokesperson for Mr. Allan did not immediately return calls or email seeking comment.
If there’s any response, we’ll update later.
N.Y. Post Spits in Front Yard of Daily News
N.Y. Post Spits in Front Yard of Daily News
11 Spring Street: Mona, Murdoch, and Malcolm?
Yesterday, the folks at Curbed ran a breaking story on Lachlan Murdoch's old 11 Spring Street semi-palace.
A special Curbed correspondent reports this morning that the building is going condo, with construction to begin in about a month. The rumored buyer? Malcolm Stevenson by name, a man about which we know precious little (no thanks to Google).
We don't know much about Malcolm Stevenson either. But according to The Observer's Michael Calderone, we do know that Mr. Stevenson is not the buyer. Check out Mr. Calderone's July article here, which names developer Mona Gora as the lucky new owner of the 14,000-square-foot former horse stables. read more »
So who is it: Mona or Malcolm? And why was there an electric candle glowing nightly in each of the building's 60 windows?
- Max AbelsonLachlan Murdoch Selling on Spring Street
Back in Sept. 2003, Mr. Lachlan dropped $5.25 million on 14,000-square-foot building that served as a horse stable in the late 19th century. However, Mr. Murdoch's plans for extensive renovations were never fulfilled--especially since his public split with Rupert, and subsequent flight back to Australia.
As Mr. Murdoch told The West Australian newspaper last May:
"We were going to build what would have been the best family home in New York City," Murdoch said. "And yet we'd much prefer to raise our family in Sydney. We've been here some months now and we couldn't be happier with the decision. It is hard (to sell) and we are in no rush. But it's on the market and we're not moving back to New York."
Both Deborah Grubman and Carol Cohen, of the Corcoran Group, also have the listing with Mr. Nicholson. Ms. Grubman--who is also Rupert's broker--could not be immediately reached for comment. read more »
- Michael CalderoneLachlan Just Says No to Nolita
Is this a rendering?
Lachlan Murdoch's epic project to transform a five-story, former stable building into his palatial residence is not happening. Mr. Murdoch is offering the 14,300-square-foot building--which he paid $5.25 million for in September 2003--for $14.75 million, listed with high-end Corcoran brokers, Deborah Grubman and Carol Cohen.
Although Lachlan and his father, Rupert, parted ways last year, they might have more in common than they think to bridge that generational divide. Ms Grubman and Ms. Cohen sold Rupert's Soho spread last year to Elie Tahari.
Like father, like son. read more »
- Michael CalderoneRupert Murdoch
Weekend Roundup
Lachlan Murdoch finds a renter for his Laight Street condo, according to New York magazine. But no word yet on his abandoned (and unfinished) Spring Street palace? Also, Frankie Muniz may soon be overlooking the NYU students from a perch in the Sculpture for Living.
Christie Brinkley’s real estate woes continue in the Hamptons, according to the New York Post.
Critics say that the Ratner-Gehry stadium wonderland in Brooklyn is a bait-and-switch. read more »
And Park Slope’s bearded literati asks, “Do I sound like that?”
-Michael CalderoneWhat They Are Leaking: New Times Tic Says More About Media Than Sources
What They Are Leaking: New Times Tic Says More About Media Than Sources
Why Lachlan Flew the Coop: It Was Rupe
Why Lachlan Flew the Coop: It Was Rupe
In With the Old: Rupert Installs Self at New York Post
Dynasties have their own logic, but generally they're supposed to go to youth. The Murdoch family succession is going in the opposite direction. Now that Lachlan Murdoch has resigned as deputy chief operating officer of News Corp., a Post spokesperson has told The Observer that he will be replaced as publisher of the New York Post by its former publisher, Rupert Murdoch.
The restoration of the 74-year-old Mr. Murdoch to the vehicle into which he has thrown so much capital and passion comes after a week of the kind that the Post itself would revel in, of public family turmoil and power Parcheesi that exacted an emotional cost from his son.
Last Friday, July 29, shortly after his sudden abdication as the designated crown prince of News Corp., Lachlan Murdoch went to lunch at Da Silvano. The 33-year-old bluff and hardy publisher and News Corp. executive came in at around 1 p.m. with a group of about eight people, according to one eyewitness.
He stayed for five and a half hours.
"They started with—they all ordered Italian beers, Peroni Nastro Azzurro, the best line of Peroni," the eyewitness said. Then came multiple bottles of Lupicaia wine, and cold cuts, truffled burrata cheese, stuffed zucchini blossoms, branzino, homemade pasta with more truffles. Lachlan Murdoch's wife, bra and swimsuit model Sarah O'Hare, stopped by, bringing their infant son, Kalan. read more »
By the last half hour of the meal, the bare-knuckled young publisher of the New York Post was in tears. "He was like, sort of crying on an elder gentleman at the table," the eyewitness said. "It seemed to me like a very tender moment."
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