Rupert Murdoch Fails in Legal Attempt to Regain Control of His Media Empire – Reports | Money News

December 9, 2024 TruthUSA

A recent report from The New York Times indicates that Rupert Murdoch’s effort to alter the control of his media empire has been thwarted.

The report suggests that a sealed court document charges the 93-year-old with acting in “bad faith” by trying to revise his family trust in favor of his oldest son, Lachlan.

Currently, the trust is structured to equally distribute control of the company among Mr. Murdoch’s four oldest children—Lachlan, James, Elisabeth, and Prudence—after his passing.

However, Nevada commissioner Edmund Gorman has denied the request to modify the trust’s terms.

Lachlan leads Fox News’ parent company, Fox Corp, as well as News Corp, which publishes UK papers like The Sun and The Times.

The amendments suggested by Mr. Murdoch would have prevented interference from Lachlan’s three siblings, who hold more politically moderate views.

Brace for More Family Drama

This saga resembles the narrative of the television drama Succession, which many believe is influenced by the Murdoch family dynamics.

Rupert Murdoch, now at 93, has been embroiled in a protracted legal battle aimed at transferring control of his media business to his eldest son Lachlan upon his demise.

Lachlan’s political conservatism, compared to his siblings, could further solidify the right-leaning perspective of certain segments of Murdoch’s media holdings, most notably Fox News.

Today, a document acquired by The New York Times revealed that the commissioner has definitively rejected the proposed changes to the trust, deeming it a “bad faith” arrangement orchestrated by Murdoch and his eldest son.

This legal action has made it painfully obvious which of his children Mr. Murdoch favors.

Interestingly, it was disclosed in court that Mr. Murdoch’s children had begun clandestinely planning a strategy surrounding their father’s eventual passing.

This was reportedly triggered by a scene in Succession where media mogul Logan Roy’s death creates chaos for his family and business.

It seems inevitable that further family conflict will arise, as Rupert Murdoch’s legal team has indicated he plans to appeal the ruling.

According to The New York Times, Mr. Gorman deemed the proposed changes to the trust a “carefully crafted charade.”

The newspaper elaborated that, in the commissioner’s view, it was an effort to “permanently cement Lachlan Murdoch’s executive positions” within the empire “regardless of the fallout such control might have on the companies or the beneficiaries” of the family trust.

There is a possibility that three of the heirs could out-vote one, leading to disputes over the future of the companies.

A representative for Mr. Murdoch could not be reached for an immediate comment.

However, Mr. Murdoch’s attorney, Adam Streisand, expressed disappointment with the decision and confirmed plans to appeal, as reported by The New York Times.

Sky News, which Mr. Murdoch founded in the UK back in 1989, is now no longer part of his media empire.

In late 2018, Fox’s film and entertainment divisions, including The Simpsons and the Avatar franchise, were sold to Disney, while the company’s 39% stake in Sky was acquired by Comcast.

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