Why was Giuliani banned from Fox News? News stories that I've found don't say.

James Murdoch, son of Fox News founder and conservative media mogul Rupert Murdoch, is planning to invest around $1 billion in media companies—possibly including a liberal-leaning outlet. As the Financial Times reported on Tuesday, the 46-year-old, a former 21st Century Fox chief who is also expected to use his more-than-$2 billion haul from the sale of the company’s entertainment holdings to Disney to fund a comic-book publisher, has long played the role of black sheep of the Murdoch dynasty: left-leaning and, according to The New York Times, “increasingly troubled by Fox News” in the age of Donald Trump. But the possibility of funding a rival to the right-wing empire that made his father a household name could represent a new course for the younger Murdoch—and a complication of the Murdoch legacy.

Sources with “direct knowledge” of James’s plans told the Financial Times that he “wanted to distance himself from the conservative media outlets controlled for decades by his father but had yet to decide how exactly he would invest in the news media.” They added that he was eyeing a range of options, and that the process was “at an early stage.” (The F.T. could not immediately reach James Murdoch for comment.) The potential move would in part reflect the complex family dynamics between Rupert, James, and Lachlan Murdoch, the latter of whom recently took over at Fox. James had long sought to run the company, but struck out on his own last year after the reins were handed to his brother.

The report also embodies shifting political attitudes among a new generation of Murdochs. Rupert, the right-wing kingmaker, is a close ally of the president—a regular Fox News viewer who at times has seemed to use his office to help the network and hurt its rivals. But Lachlan, now the chair of the Fox Corporation, is a libertarian conservative who “doesn’t like Trump,” as one of his associates told my colleague Gabriel Sherman. That has some MAGA fans inside Fox concerned that the older Murdoch will lead the network in a less Trumpian direction. Trump himself has in recent days expressed disappointment in his beloved channel, tweeting Tuesday that it was “weird” to see Bernie Sanders in a Fox-hosted town hall, and questioning the network’s hiring of former Democratic National Committee interim chair Donna Brazile. “What’s with @FoxNews?” Trump asked, slipping in a telltale “we” in his earlier tweet.