Siobhan McKenna Resigns from News Corp After Foxtel Sale

cryptocurrency In a notable shift within the Australian media landscape, Siobhan McKenna, the foremost adviser to Lachlan Murdoch and the chief of broadcasting for News Corporation, has announced her resignation. This decision comes on the heels of the sale of the Foxtel Group to the global sports streaming platform DAZN.

McKenna's departure marks a pivotal moment for News Corp, particularly as her responsibilities had substantially waned after the April sale of the pay TV and streaming entity, which comprises services like Kayo, Binge, and Hubbl. As the chief executive of broadcasting, her influence had been significant, but the recent transition has altered her role dramatically.

A former partner at McKinsey & Company, McKenna was not only a close adviser to Murdoch but also played a crucial role in the high-profile family trust litigation. This case ultimately allowed Lachlan to gain control over his father’s expansive media empire and ensured the stability of News Corp’s Australian print and broadcasting ventures.

McKenna's significant contributions during the Nevada court proceedings, which concluded in the U.S. last month, have been acknowledged by many. The settlement saw Rupert's oldest children receiving an estimated US$1.1 billion each for their stakes in the media conglomerate.

Siobhan McKenna Resigns from News Corp After Foxtel Sale In an email sent to staff on Thursday morning, Robert Thomson, News Corp's global CEO, communicated McKenna's decision to leave the company at the end of the current year. He referred to her choice as “epochal,” praising her as a transformative figure during her tenure at News Corp.

“The term ‘visionary’ is often misused, but not in Siobhan’s case,” Thomson remarked. “Her unmatched ability to foresee future trends amidst uncertainty is unparalleled. She is indeed irreplaceable.”

How Technology is Shaping Our Everyday Lives Two decades ago, McKenna and Lachlan established the private investment firm Illyria. Their partnership has seen both successes, such as their achievements with Nova Entertainment, as well as setbacks, notably when Lachlan took over the Ten Network in 2012, which ultimately declared voluntary administration in 2017.

In 2022, the Albanese government recognized McKenna's vast expertise in commercial, strategic, digital, and technological realms by appointing her as chair of Australia Post.

Thomson emphasized McKenna’s adept navigation of Sky News Australia and Foxtel through a challenging technological environment, transforming them into “global success stories.” He noted, “The value of Foxtel was instinctively recognized by DAZN, the premier global sports streaming leader, which recently acquired the company and is with whom we maintain an ongoing partnership.”

Thomson further stated, “Sky has evolved from a traditional broadcaster to a digital powerhouse, with an impact that extends well beyond Australian borders. The achievements of both Sky and Foxtel represent a crucial turning point for our organization and a professional inflection point for Siobhan.”

Currently, Lachlan Murdoch holds the position of chair at News Corp, overseeing a diverse portfolio that includes prominent publications like the Wall Street Journal, The Times, and the New York Post. He succeeded his father as chair in 2023 and also serves as executive chair and CEO of Fox Corporation.

Siobhan McKenna's resignation signals a notable transition within News Corporation, reflecting the ongoing evolution of Australia's media landscape. Her legacy will undoubtedly influence the company’s future trajectory as Lachlan Murdoch continues to lead News Corp into new ventures.