16 september 2024 : A legal battle over the control of Rupert Murdoch’s global media empire is set to begin on Monday in a Reno, Nevada courtroom, where the focus will be on the contentious issue of succession.
The 93-year-old Murdoch is seeking to amend the terms of the family trust that holds substantial stakes in Fox News’ parent company, Fox, and the Wall Street Journal’s owner, News Corp. Murdoch’s goal is to ensure that his eldest son, Lachlan Murdoch, maintains control of the media conglomerates after his death, according to a sealed court document obtained by the New York Times.
The probate court hearing, which will be held privately, will determine if Murdoch is acting in good faith with this proposed change. On Thursday, a Nevada judge denied an appeal from Reuters and other news outlets to open the hearings to the public, citing the need to protect confidential personal and financial details. Most of the court documents remain sealed.
The Murdoch trust was established around the time of Rupert Murdoch’s 1999 divorce from his second wife, Anna. It is through this trust that Murdoch controls News Corp and Fox, holding roughly 40% of the voting shares in each company.
Following Murdoch’s death, News Corp and Fox voting shares are set to be transferred to his four oldest children—Prudence, Elisabeth, Lachlan, and James. This could lead to disputes over the future of the companies if three siblings out-vote one. Lachlan Murdoch currently runs Fox and chairs News Corp, but his proposed amendment would prevent interference from his three siblings, who are seen as more politically moderate.
James Murdoch, who has donated to progressive causes and resigned from the News Corp board in 2020 due to editorial disagreements, is particularly at odds with Lachlan, who is ideologically aligned with his conservative father.
