Lachlan Murdoch’s $220m bet on digital bookmaking falls flat

Lachlan Murdoch is the mastermind behind New Corp’s move into online betting.

Lachlan Murdoch’s history in Australia doesn’t seem to read well. First Onetel and now Points Bet all business blunders. This Philosophy major doesn’t appear to have the business skills of his father. He knows how to spend but not make money. But then Rupert was driven out of the UK, threatened with jail, and the loss of license in the UK, only to be saved by the Tories with whom he had an arrangement of mutual benefit. He fled to America, the land of Trump, became an American, and flourished when he appointed Roger Ailes to head up Fox News.

Yes,the Murdochs have made money but it seems unclear that it was entirely their doing. Corporate raiders of the assets of others have served them well. However, Australia hasn’t been as kind to their bottom line despite Newscorp’s quid pro quo arrangements with the LNP to ransack the ABC, the IPA, and multinational non tax paying corporate interests. The Murdochs have never really had any regard for journalism, news and information or the Australian people.

The rationale for News is that digital betting would supplement the challenged earnings its traditional media assets have experienced in Australia over time.

Source: Lachlan Murdoch’s $220m bet on digital bookmaking falls flat

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