Since taking the helm at News Corp’s Australian operations, Siobhan McKenna has become a formidable force, both feared and respected in equal measure. Her strategic maneuvers have not only revitalized the company’s assets but have also cemented her status as a key player in the Murdoch empire. McKenna played a pivotal role in the merger of Fox Sports and Foxtel, securing substantial funding from Foxtel to bolster Sky News.
Almost immediately after the merger, significant changes were implemented. Patrick Delany, formerly the head of Fox Sports, was appointed CEO of the newly combined Foxtel. Meanwhile, Sky’s long-standing CEO, Angelos Frangopoulos, stepped aside for Paul Whittaker, editor-in-chief of The Australian. A senior News Corp executive noted,
“[McKenna] was quite instrumental in ensuring Sky was paid enough money from Foxtel so it could go and grow and build that business.”
This financial boost enabled Whittaker to enhance Sky’s “After Dark” programming and adopt a campaigning approach akin to News Corp’s style.
Strategic Leadership and Corporate Influence
McKenna’s influence extends beyond her strategic acumen. Known for her logical approach, she has been likened to having McKinsey on board permanently. Patrick Delany praised her foresight in advocating for Kayo, a new sports streaming service, recognizing its necessity from a revenue perspective. This was followed by the launch of Binge, further solidifying Foxtel’s market position.
A major test of McKenna’s leadership came in 2022 when Foxtel was negotiating to retain its vital AFL broadcast deal. The resulting $4.5 billion agreement, the largest in Australian media history, underscored her negotiating prowess. AFL CEO Gillon McLachlan acknowledged her competitive spirit,
“No one likes being forced to their outer limits, but Siobhan’s one of the greatest competitors. That’s what I respect about her.”
Corporate Fixer and Trusted Ally
McKenna’s reputation as a corporate fixer within News Corp is well-earned. Her successes, such as the Foxtel turnaround, have overshadowed setbacks like the ill-fated news streaming service Flash. Her ability to deliver outcomes has fostered deep trust with the Murdoch family. Delany emphasized,
“She delivers. I think in business that’s the true test, and the only test of a long relationship.”
Her extensive corporate roles include executive positions at Sky, Foxtel, and Nova Entertainment, alongside board memberships at Australia Post, the NBN, and Woolworths, among others. Despite her high-profile career, McKenna remains intensely private, rarely granting interviews or speaking publicly.
Political Savvy and Personal Interests
McKenna’s political affiliations are enigmatic, though she is perceived as a counterbalance to Lachlan Murdoch’s conservative leanings. Her network includes friends across the political spectrum, and she has been an advocate for gender diversity and environmental, social, and governance (ESG) targets within the male-dominated sports network.
In 2020, McKenna ventured into fiction with her novel “Man in Armour,” a corporate drama that surprised many in the business community. Her passion for literature is well-documented, and she even considered publishing under a pseudonym before deciding to attach her name to the work.
The Path Forward
Following Foxtel’s sale, speculation surrounds McKenna’s next move. A recent medical scare has prompted a brief respite, but her future likely holds further influential roles, potentially on an international stage. Her sons’ education in the United States adds intrigue to the possibility of a role at News Corp’s global headquarters.
McKenna’s legacy within the Murdoch empire is significant, having played a crucial role in the family’s succession planning. As News Corp evolves under Lachlan Murdoch, McKenna’s influence remains integral. Her ability to wield power effectively and discreetly positions her as a key figure in the company’s future, embodying a more private and measured corporate culture.
As one observer noted,
“She is the acceptable face of the family empire, and she wields her power more effectively than others, behind closed doors, just how she likes it.”
