MUNICH – Big economic crises often cause iconic companies to falter. Rupert Murdoch’s media empire is a model of the modern global enterprise. A particularly dynamic and innovative business model came from outside and took over central aspects of British and then American public life. That model is now threatened by the fallout from the scandal that started with phone hacking in Murdoch’s British press operations.
The Murdoch experience is a microcosm of how modern globalization works. Murdoch always looked like a foreign intrusion into British life. It was not just that he was Australian; he also brought new ideas.