Let's play the expected guessing game for Peter Chernin's departure from News Corp: Was he pushed? Is he leaving calmingly and voluntarily? Or, has he just had enough?
Surely a troubling economy has a lot to do with it, forcing some sort of decision. News Corp.'s stock has suffered, but so has that of virtually every media company, big and small.
It's hard to argue about performance. Fox television network has been at the top of its game for a number of years. The Fox News Channel continues to rake in big profits and revenue.
Under Chernin's watch, News Corp. made a key and lucrative acquisition of MySpace - at somewhat bargain basement prices, apparently. Only its Fox movie studio has had its up and downs - but not any more than other movie operations.
Wall Street liked Chernin because of his steady, calming hand -- especially around Rupert Murdoch's big personality. For a long time all this seemed to suggest that as good as Chernin was, he was headed for the top job.
But that isn't the case. Succession has been an issue with News Corp. -- because aren't media companies, after all, just big kingdoms in our lives? The succession of senior executives is what gives warm feelings to Wall Street, especially now that 77-year-old Murdoch is back in charge.
It now seems more likely that Rupert's son -- James Murdoch, who
runs News Corp's Europe and Asia operations -- will eventually get the nod.
So now what? Murdoch wants to take the reigns again -- at least for a little while.
media mogul a few years older than Murdoch -- Sumner Redstone -- also seems to have a tough time letting go.
Each mogul has his own problems: Murdoch with depressing local TV stations and his much beloved newspaper business; Redstone with his always quickly-shifting MTV business.
What's needed? New leadership, new ideas, or just a new economic time?