Stephen Mayne: Time for the Murdochs to sell out of News Corp

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The Murdochs are Australia’s richest family, with a $30 billion fortune spread across controlling shareholdings in News Corp and Fox Corp.

Not to mention a passive stake in Disney worth almost $20 billion after last year’s $100 billion sale of its 21st Century Fox entertainment assets.

So when the Murdoch dynasty has never been richer, why did they announce the single most devastating blow against regional and suburban print journalism in Australian history with the permanent closure of the print editions of more than 100 titles across the country?

With such unprecedented wealth, if Australia’s most powerful and storied media family is not prepared to support journalism and regional communities, then they should sell their controlling stake in News Corp to someone who is prepared to have a go.

Step up or sell out!