Murdoch’s media empire faces uncertain future as family feud heats up
A high-stakes legal battle is set to unfold behind closed doors on Monday in Reno, Nevada, as Rupert Murdoch, the media mogul behind Fox News and The Wall Street Journal, seeks to solidify his eldest son Lachlan’s control over his vast media empire.
Rupert Murdoch wants Lachlan to maintain control over media empire
The 93-year-old Murdoch is attempting to amend a family trust to ensure that Lachlan, his chosen successor, maintains a firm grip on the company even after Murdoch’s death.
The Murdoch trust exercises considerable influence over Fox and News Corp, with roughly 40% voting stakes in each company. Rupert now controls it, but when he dies, each of his four oldest children will have an equal voting share.
The trust was formed at the time of the 1999 divorce of Rupert from his second wife, Anna Murdoch Mann, the mother of James, Lachlan and Elisabeth. She wanted to ensure her children had a future ownership stake in the Murdoch empire.
Succession drama
This move by Rupert Murdoch to amend the family trust has sparked a family feud, with Murdoch’s other children, raising concerns about the potential implications for the future of the media giant.
While Lachlan, who currently serves as the sole chairman of News Corp, is seen as a continuation of his father’s conservative legacy, Murdoch’s other children, particularly James, have expressed concerns about the company’s direction.
James Murdoch, who resigned from the News Corp board in 2020, has been critical of the company’s role in amplifying disinformation and has publicly supported progressive causes. His stance has put him at odds with his father and brother, Lachlan, who is closely aligned with Murdoch’s conservative political views.
Behind closed doors
The trial, scheduled to begin on September 16, is taking place in a Nevada probate court, where the trust is based. It will be closed to the public unless pending legal challenges to open up the proceedings are successful.
The secrecy surrounding the case has indeed prompted a group of news organizations, including the New York Times, CNN, and The Washington Post, to intervene, demanding that the court proceedings and related documents be made public.
Any changes in the company’s leadership could have significant ramifications for the future of conservative media and the broader media ecosystem.
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