James Murdoch Rep Denies He Wants to Invest $1 Billion in Media Companies, Including Liberal Outlet (Exclusive)

Financial Times reported Tuesday that Rupert Murdoch’s son was assembling a “portfolio of media companies that could include a liberal-leaning news outlet”

James Murdoch (Getty Images)

A representative for James Murdoch denied a report that he is planning to invest $1 billion in news outlets, including one that could lean left.

On Tuesday, The Financial Times reported that Rupert Murdoch’s more liberal-leaning son was looking to set himself apart from his father’s conservative media empire by investing in a “portfolio of media companies that could include a liberal-leaning news outlet.”

But a Murdoch representative told TheWrap that Murdoch “is not currently looking at any investments in news properties.”

The spokesperson also said that the FT did not speak with Murdoch or “anyone with insights into Mr. Murdoch’s current plans.” A rep for the FT did not immediately respond to a request for comment.

Rupert Murdoch and sons, James and Lachlan, each hauled in around $50 million in fiscal 2018, representing huge pay bumps from the prior year.

The Wall Street Journal reported that James, who served as chief executive of 21st Century Fox, will personally take in another $2.2 billion from the $71.3 billion sale of the company’s major entertainment assets to Walt Disney Co.

James, 46, has been known as one of the more liberal of Rupert Murdoch’s six children. Last month, he donated $2,800 to Democrat Pete Buttigieg’s presidential campaign, further distancing himself from his father’s empire.