Since her arrival at News Corp, Siobhan McKenna has solidified her influence within the Murdoch empire, revitalizing its Australian assets. Her strategic prowess was instrumental in merging Fox Sports with Foxtel and securing increased funding for Sky News from Foxtel. These moves have not only strengthened her position but also reshaped the landscape of Australian media.
Almost immediately following the merger, significant leadership changes were implemented. Patrick Delany, former Fox Sports boss, was appointed as the chief executive of the newly combined Foxtel, while Sky’s long-standing chief executive Angelos Frangopoulos was replaced by Paul Whittaker, editor-in-chief of The Australian. According to a senior News Corp executive, McKenna played a crucial role in ensuring that Sky received sufficient financial backing from Foxtel to expand its operations.
Strategic Moves and Leadership Style
McKenna’s influence extended beyond financial maneuvers. She brought a new level of sophistication to Sky, often noted for her preference for a fine china tea set, a stark contrast to the network’s traditionally rugged culture. Her logical and strategic mindset was likened to having McKinsey on board, as described by Patrick Delany, who worked under her leadership for seven years.
Under McKenna’s guidance, Foxtel launched Kayo, a sports streaming service, followed by Binge, another streaming platform. These initiatives were not only innovative but essential for revenue growth. Delany remarked, “Having her as a chairman is like having McKinsey permanently on board.”
Securing Major Deals
In 2022, McKenna faced a significant challenge in retaining Foxtel’s crucial AFL broadcast deal. The outcome was a record-breaking agreement, with Foxtel and Seven committing $4.5 billion over seven years. This deal underscored McKenna’s ability to navigate high-stakes negotiations, earning her respect from AFL executives, including league boss Gillon McLachlan.
“No one likes being forced to their outer limits, but Siobhan’s one of the greatest competitors. That’s what I respect about her.” – Gillon McLachlan
Corporate Fixer and Power Player
McKenna’s reputation as a corporate fixer within News Corp is well-established. She played a pivotal role in aligning Foxtel, Sky, and the newspaper divisions, fostering closer collaboration. Her successes have overshadowed less successful ventures such as the news streaming service Flash and the Apple TV copycat Hubbl.
Beyond her roles at News Corp, McKenna has held numerous prestigious positions, including chief executive of broadcasting, partner at Illyria, chair of Nova Entertainment, and board member of several prominent organizations. Despite her public achievements, McKenna remains a private figure, rarely granting interviews or speaking publicly.
“She delivers. In business, that’s the true test, and the only test of a long relationship.” – Patrick Delany
Complex Persona
Describing McKenna’s character is challenging. Those who know her speak of a complex individual: private, intimidating, highly intelligent, and politically savvy. Her ability to wield power effectively is both respected and feared, as noted by a close colleague who described her as “feared, respected, and disliked in equal measures.”
Business columnist Joe Aston remarked, “When you work with one of the world’s most powerful people, it gives you a certain amount of cover.”
Political Influence and Controversies
McKenna’s political leanings are largely speculative, though she is seen as a counterbalance to Lachlan Murdoch’s conservative stance. Her network of friends spans the political spectrum, and her involvement in political discussions within News Corp is notable.
Her tenure on the NBN board was marked by controversy, particularly during the transition to a Coalition government. Despite the political challenges, former communications minister Stephen Conroy defended her qualifications, citing her intellect and commitment to public service.
“She has a full, formidable intellect, is discreet, has a huge work ethic and has a commitment to public service.” – Stephen Conroy
Literary Pursuits and Personal Interests
In 2020, McKenna surprised many by publishing “Man in Armour,” a novel blending corporate fiction with personal insights. The book, published by News Corp’s Harper Collins, showcased a different side of McKenna, revealing her passion for literature and storytelling.
The release of the novel during COVID-19 lockdowns allowed McKenna to engage with the public in a new way, conducting a press tour and sharing personal anecdotes. Her ability to separate personal and professional relationships was evident in her choice of host for the virtual book launch, her friend Catherine Andrews.
The Future of Siobhan McKenna
Following the sale of Foxtel, speculation about McKenna’s next move has been rife. While she currently oversees Sky News and Nova, her future role remains uncertain. Some speculate that a position at News Corp’s head office in the United States may be on the horizon, given her strong ties to the Murdoch family.
David Folkenflik, a US media commentator, noted, “She was there when it counted, and served him well,” referring to her role in the Murdoch succession process.
As News Corp evolves under Lachlan Murdoch’s leadership, McKenna’s influence is expected to continue. Her ability to navigate complex corporate and political landscapes makes her a formidable figure within the media empire, and her next steps are eagerly anticipated by industry observers.
