Fleet Street unites against Murdoch

Media heads warn Vince Cable that Murdoch's bid for BSkyB could destroy media plurality.

Rupert Murdoch has long seen himself as an "anti-establishment" radical and this morning he will feel vindicated. His bid to take full ownership of BSkyB (he currently owns a 39 per cent stake) has achieved the rare feat of uniting the highly factionalised world of Fleet Street around a single cause: to stop Murdoch.

A remarkable cross-section of media executives have written to Vince Cable urging him to consider blocking News Corp's takeover bid on plurality grounds. Signatories to the letter include Murdoch MacLennan, chief executive of Telegraph Media Group, Mark Thompson, director general of the BBC, Ian Livingston, chief executive of BT, Sly Bailey, chief executive of Trinity Mirror, Andrew Miller, chief executive of Guardian Media Group and David Abraham, chief executive of Channel 4.

For the Telegraph, which has a long-standing non-aggression pact with News International, to intervene in this fashion, reveals the degree of concern over Murdoch's takeover plan.

When questioned on the subject at a recent New Statesman fringe event, Cable replied:

I am not willing to express a view on it. This is a legal process. The power that I have as a secretary of state is limited to a judgement on whether the media plurality is affected on this - and I will form a judgement if a bid is made, but as yet no bid has been made.

If Cable's aim is to preserve media plurality then there is only one possible conclusion: the deal must be blocked. As Mark Thompson recently argued in his impressive MacTaggart Lecture, Murdoch's takeover bid, if successful, would lead to a "concentration of cross-media ownership" that would be unacceptable in the United States or Australia.

As the owner of the Sun, the News of the World, the Times and the Sunday Times, Murdoch already controls 37.3 per cent of UK newspaper circulation and, based on revenue, Sky is now the country's largest broadcaster, with an annual income of £5.4bn. With the Times already behind a paywall and the News of World soon to follow, his game plan is coming into view.

Once the deal is complete, we can expect the News Corp head to bundle his newspapers with Sky subscriptions in an attempt to offset falling circulation. As media analyst Claire Enders has predicted, by the middle of this decade, Murdoch could control 50 per cent of the newspaper and television markets, a concentration of ownership that would make even Silvio Berlusconi blush.

That Murdoch has a history of editorial intervention is not strictly relevant: it would be undesirable for any individual or company, however benevolent, to achieve such a concentration of ownership. But it certainly raises the stakes.

David Cameron, who could count on the full-throated support of Murdoch's newspapers during the election and whose communications director, Andy Coulson, remains close to News International, now faces a major political dilemma. Does he defend plurality and competition, or will he stay loyal to his media patron?

We know that Murdoch visited Downing Street just a week after Cameron became prime minister. Was Cameron leant on to approve the BSkyB deal? We may be about to find out.

George Eaton is political editor of the New Statesman.

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The age of China's female self-made billionaires – and why it could soon be over

Rags to riches stories like Zhou Qunfei's are becoming less common.

Elizabeth Holmes, 33, was the darling of Silicon Valley, and the world’s youngest self-made female billionaire. Then, after a series of lawsuits, the value of her healthcare firm plummeted.

Holmes might have abdicated the billionaire crown, but another tech queen was ready to take it. Only this time, the self-made female billionaire was not a blonde American, but Zhou Qunfei, a 47-year-old from China. She dropped out of high school and began working at a watch lens factory as a teenager. In 1993, when she was in her early twenties, she founded her own company. Her big break came ten years later, when Motorola asked her to develop a glass screen for smartphones. She said yes.

Zhou is in fact more typical of the SMFB set than Holmes. Of those listed by Forbes, 37.5 per cent come from China, compared to 30 per cent from the United States. Add in the five SMFB from Hong Kong, and the Middle Kingdom dominates the list. Nipping at Zhou’s heels for top spot are Chan Laiwa, a property developer who also curates a museum, and Wa Yajun, also a property developer. Alibaba founder Jack Ma declared his “secret sauce” was hiring as many women as possible.

So should the advice to young feminists be “Go East, young woman”? Not quite, according to the academic Séagh Kehoe, who runs the Twitter account Women in China and whose research areas include gender and identity in the country.

“I haven’t seen any of these self-made female billionaires talking about feminism,” says Kehoe. Instead, a popular narrative in China is “the idea of pulling yourself up by your boot straps”. So far as female entrepreneurs embrace feminism, it’s of the corporate variety – Sheryl Sandberg’s book Lean In has been translated into Mandarin.

In fact, Kehoe believes the rise of the self-made woman is down to three historic factors – the legacy of Maoist equality, and both the disruption and the opportunity associated with the post-Mao economic reforms.

Mao brought in the 1950 Marriage Law, a radical break with China’s patriarchal traditions, which banned marriage without a woman’s consent, and gave women the right to divorce for the first time.

In Communist China, women were also encouraged to work. “That is something that was actively promoted - that women should be an important part of the labour force,” says Kehoe. “At the same time, they also had the burden of cooking and cleaning. They had to shoulder this double burden.”

After Mao’s death, his successor Deng Xiaoping began dismantling the communist economy in favour of a more market-based system. This included reducing the number of workers at state-owned enterprises. “A lot of women lost their jobs,” says Kehoe. “They were often the first to be laid off.”

For some women – such as the SMFBs – this was counterbalanced by the huge opportunities the new, liberal economy presented. “All this came together to be a driving force for women to be independent,” Kehoe says.

The one child policy, although deeply troubling to feminists in terms of the power it dictates over women’s bodies, not to mention the tendency for mothers to abort female foetuses, may have also played a role. “There is an argument out there that, for all of the harm the one child policy has done, for daughters who were the only child in the family, resources were pushed towards that child,” says Kehoe. “That could be why female entrepreneurs in China have been successful.”

Indeed, for all the dominance of the Chinese SMFBs, it could be short-lived. Mao-era equality is already under threat. Women’s political participation peaked in the 1970s, and today’s leaders are preoccupied with the looming fact of an aging population.

“There has been quite a lot of pushback towards women returning to the home,” says Kehoe. Chinese state media increasingly stresses the role of “good mothers” and social stability. The one child policy has been replaced by a two child policy, but without a comparable strengthening of maternity workplace rights.

Meanwhile, as inequality widens, and a new set of economic elites entrench their positions, rags to riches stories like Zhou Qunfei's are becoming less common. So could the Chinese SMFBs be a unique phenomenon, a generation that rode the crest of a single wave?

“Maybe,” says Kehoe. “The 1980s was the time for self-made billionaires. The odds aren’t so good now.”

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.