Baselworld, the former queen of jewelery and watch fairs, could be saved by Murdoch jr. Lupa Systems, an investment company managed by James Murdoch, son of media tycoon Rupert Murdoch, has in fact offered about 100 million Swiss francs (equal to about 93 million euros or 106 million US dollars) to acquire a stake in Mch Group, the company that owns the Baselworld brand. According to rumors, it would be a purchase offer between 30% and 40% of company: the offer could save the Swiss company, which after the Baselworld debacle, canceled definitively, risks survival.
Indeed, the Bloomberg news agency predicts a decrease in Mch’s turnover of around 180 million by 2020, since Art Basel has also been canceled due to covid-19. Not all Mch members, however, agree to accept the proposal by Murdoch jr. The top of the fair company, on the other hand, seems in favor of accepting the entry of the Shark’s son (as his father Rupert was nicknamed on Wall Street). According to the Basel company summit, Murdoch jr. it could be the last train “before it’s too late”.