Rupert Murdoch In Legal Battle With His Children Over Future Of Media Empire

By Published On: July 25, 2024

Rupert Murdoch is engaged in a secret legal battle with […]

Rupert Murdoch is engaged in a secret legal battle with three of his children over the future direction of the family’s media empire.

Murdoch, 93, is attempting to ensure his eldest son and heir apparent, Lachlan, has more control over the future of his businesses by securing him greater voting power compared to his siblings, a sealed court document seen by the New York Times has revealed.

The question of who will take over Murdoch’s sprawling empire, which includes Fox News, the Wall Street Journal and British assets including The Sun and Times newspapers, has captured the attention of the public in recent years – with the storyline having even partially inspired the acclaimed HBO series Succession.

Upon announcing his retirement in September, Murdoch appeared to settle the debate by naming his right-leaning son Lachlan as chairman of News Corp and chair and chief executive of Fox Corp.

However, he has now moved to ensure these arrangements remain in place after his death, by legally ensuring the 52-year-old cannot vetoed by three of his more politically moderate siblings.

At present, the Murdoch Family Trust has eight votes: four controlled by Murdoch senior, and the remaining four controlled by the four eldest children; Lachlan, James, Elisabeth and Prudence Murdoch.

The New York Times said the patriarch has moved to change the terms of the trust in court to increase Lachlan’s voting power and protect the empire’s conservative political stance, therefore protecting the commercial value for all his heirs.READ ALSO: Trump Shooting: “In America We Resolve Our Differences At The Ballot Box. Not With Bullets” – Biden Asks Americans To ‘Cool It Down’

James, Elisabeth and Prudence have different political leanings to their father and favoured brother, sparking concerns that they could steer the empire away from its right-wing instincts.

Mr Murdoch’s youngest children, Chloe and Grace, have no voting rights in the trust but have an equal share in its equity.

In the sealed documents, Murdoch expresses his worry that a “lack of consensus” among his four children “would impact the strategic direction at both companies including a potential reorientation of editorial policy and content,” adding that he also wishes to hand Lachlan Murdoch “permanent” and “exclusive” control over the company.