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This structured assignment is to accompany the case ''805-055-1''. The abstract of the case is as follows: News Corporation, one of the world''s largest media conglomerates, was founded by Rupert Murdoch in the 1950s. After more than 50 years at the helm of affairs, Murdoch prepared to retire from the business by devolving the management of News Corporation to his elder son, Lachlan. However, Lachlan unexpectedly resigned from his post in the company in July 2003 citing personal reasons. This brought to light the speculations about who will eventually succeed Murdoch. The case, while highlighting the succession dilemma at News Corporation, provides scope for discussion on the approach that would be followed by Murdoch in order to prevent the company from being taken over by an outsider.