The Murdoch Method: Notes on Running a Media Empire

by Irwin Stelzer

An exclusive, insider viewpoint on the "Murdoch Method" from his right-hand man and adviser, Irwin Stelzer.
Rupert Murdoch is one of the most notorious and successful businessmen of our age. Now, for the first time, an insider within the Murdoch empire reveals the formidable method behind the man. Irwin Stelzer, an adviser to Murdoch for 35 years reveals what makes Rupert tick and how he grew from humble beginnings as the owner of an Adelaide newspaper, to becoming the head of a globe-circling enterprise worth over $50 billion.
But this isn't just a straight-forward business memoir. Rather, Stelzer explores what makes Murdoch so whether that be down to his love of taking risks, his mistrust of the establishment, or his unconventional management style. Revealing what really happened during Murdoch's most infamous moments, Stelzer examines how Murdoch navigated both his success and his including his tussles with regulators, his doomed foray into social media, his victories over trade unions, and how he handled the fallout of the News of the World phone-hacking scandal.
Venerated, despised, admired and mistrusted, Murdoch has left an indelible imprint on the world of business, media, and politics. Read this engrossing account to find out how he did it.

Genres: Business, Nonfiction

318 pages, Kindle Edition

Published October 11, 2017

Reviews

[Louise · Rating 5 out of 5]

Irwin Stelzer was an advisor and friend to Rupert Murdoch for over 35 years. In that time he observed the “methods” by which Murdoch built his media empire. The “methods” were not drafted or in any way articulated by Murdoch. Stelzer writes of these methods, which are more like principles, and how Murdoch employed them as he navigated his company through rapid expansion, acquisitions, technological change, and times of financial uncertainty.

One of the methods is an attitude: competition should deliver what the market wants but an “exclusionary establishment” will not deliver it. (Murdoch sees his company as an underdog fighting entrenched elitists.) The broad methods of management are about taking the long view and avoiding overly rigid lines of authority.

One example of taking the long view is recognizing that because regulators will not go away he will not publically confronting them. He uses a process of complaint followed up with compromise and cooperation. An example of avoiding lines of authority is attracting and nourishing talent by giving creative people space, authority and access to him, regardless of budget and/or the organizational chart. Another example of his long view method is not ceding control. While he paid what was presumed too much for the Wall Street Journal and ceded editorial control this acquisition demonstrates the long view of competing with and overtaking the NY Times (the "exclusionary establishment").

You come to understand the often heard comment that Murdoch is basically and “newspaper man”. One of Selzer's examples of this is his love of the NY Post. Contrary to his “method” of nourishing talent he micro-manages the Post - he creates headlines and has shredded papers in front of the editors. The NY Post loses money as do many other newspapers in his print empire; most business executives would sell or discontinue them.

Stelzer gives you information on how the big public scandals such as the phone hacking (2005-7 and 2011) and Judith Regan’s O.J. Simpson book “If I Did It” were felt and managed. He describes big financial events such as major acquisitions and the changes forced by John Malone's stock acquisition.

Murdoch makes clear that nepotism will rule which has driven creative people from the company. One high profile loss was Barry Diller. There is a glimpse of the two sons, James and Lachlan, which makes you wonder what will become of Fox News when they are in charge.

While the book is short and heavy on anecdote, it is significant in profiling the style of a significant business leader. It should be of interest to business leaders and managers. It has a lot of material that can be used in business courses and can be adapted to case studies.

[Erik Surewaard · Rating 2 out of 5]

I honestly was a bit dissapointed whilst reading the book... First of all, the writing style of the author is not really fluid. Very long sentences are used by the author with many many comma’s in it. Sometimes it is really difficult to understand what the author wants to state. It became somewhat better in the last few chapters, but this book can benefit a lot by using a good editor.

Second, I was dissapointed by the content of the book. I have read quite some books of the different businesses that were set-up by Murdoch, and this really didn’t come back well in this book. For instance, I hoped to learn how Rupert Murdoch would see the future of newsprint, cable, satellite, china, india, ... I unfortunately did not learn any on this in this book.

I also hoped to learn some more rationale behind the recent announced sale of many of the Fox assets to Disney. Very unfortunate in my opinion.

I also think the author made a mistake by several times referring to the Myspace aquisition as an unprofitable investment. Yes... I admit that Myspace is a failed business model, but where Murdoch was able to buy it for around somewhere around 600M USD, he was quick to generate over 1B USD with an advertising deal. Apart from that, the goodwill write down of the Myspace aquisition is a tax benefit. So I guess, Murdoch came out quite positive with the business.

This book could have been waaaaay more than it is now. I rate it two stars... More is really too much. If I could reconsider buying and reading this book, I would chose against doing this.

[Jason Orthman · Rating 3 out of 5]

Some interesting stories on Rupert Murdoch by a former consultant. Learnings modest.

[Rishabh Srivastava · Rating 4 out of 5]

Phenomenal read. Chronicled Rupert Murdoch's approach to running and expanding his gargantuan empire. Would recommend for anyone in the media business.

I found a lot of value in the first few chapters of the book. The last 3 were light on principles but rich in anecdotes.

[Anandh Sundar · Rating 4 out of 5]

A book which explains the way Murdoch thinks, from the vantage point of an advisor. Some key points are that in creative enterprises, money AND creative freedom matters, and also that power is not unfeterred, you finally need to appease regulators, editors, consumers, watchdogs etc.

[Rhett · Rating 1 out of 5]

Lacks objectivity.

[Whitney · Rating 2 out of 5]

It wants to be interesting, but it’s just not.