Rupert Murdoch’s Family Trust: Legal Battle Over Succession Begins in Nevada Courtroom
A high-stakes battle for control over Rupert Murdoch’s global media empire, a matter of significant global interest, has officially begun in Reno, Nevada. Today, a judge is expected to weigh in on the future of Murdoch’s vast holdings in a contentious court case centered on the billionaire’s succession plans.
Murdoch’s Plan to Secure Control for Eldest Son
Murdoch, now 93, is reportedly attempting to alter the terms of the family’s trust. This trust holds significant shares in Fox Corporation, the parent of Fox News, and News Corp, which owns The Wall Street Journal. After his death, the media mogul aims to ensure that his eldest son, Lachlan Murdoch, maintains control of these major media companies. According to a sealed court document obtained by The New York Times, this proposed amendment would prevent Lachlan’s siblings from outvoting him and reshaping the companies’ future.
Probate Court Hearing in Secrecy
A key question for the court to determine is whether Rupert Murdoch is acting in good faith in making these changes. This is the focus of today’s probate hearing, which will take place behind closed doors, adding a layer of intrigue to the already high-stakes battle. The secrecy surrounding the case has sparked controversy, especially after a Nevada judge recently denied Reuters and other news organizations’ requests to open the hearings to the public. The judge ruled that personal and financial information must remain confidential, with most related documents also under seal.
Potential Family Power Struggle
The Murdoch family trust was created in 1999, during Rupert Murdoch’s divorce from his second wife, Anna. The trust serves as the mechanism through which Murdoch controls News Corp and Fox, holding nearly 40% of the voting shares. Upon his death, those voting shares will be divided among his four eldest children—Prudence, Elisabeth, Lachlan, and James. This division could lead to a power struggle, with three of the heirs potentially outvoting the fourth, despite Lachlan currently serving as Fox CEO and sole chair of News Corp.
Lachlan Murdoch’s Conservative Alignment
Lachlan is seen as ideologically aligned with his conservative father. In contrast, his siblings lean toward more moderate or progressive political stances. James Murdoch resigned from News Corp’s board in 2020, citing fundamental disagreements with the company’s editorial direction. The sealed court document reportedly reveals that Rupert Murdoch’s changes to the trust aim to prevent Lachlan’s siblings from exercising influence over the companies, ensuring that Lachlan’s conservative leadership continues uninterrupted.
As this legal drama unfolds, it could significantly shape the future of two of the world’s most politically and culturally influential media empires, a prospect that is sure to keep the world watching closely.