LOS ANGELES (Askume) – The battle for control of Rupert Murdoch’s global television and publishing empire resumes on Monday in a courtroom in Reno, Nevada, where a judge will hear a contentious succession case.
Murdoch, 93, is trying to change the terms of the family trust, which holds large stakes in Fox News owner Fox (FOXA.O) and Wall Street Journal owner News Corp (NWSA.O) . The billionaire wants to ensure the media company remains under the control of his eldest son Lachlan Murdoch after his death, according to the New York Times, which has obtained a sealed court document detailing the succession drama.
A hearing will be held in probate court to determine whether Murdoch acted in good faith, and the proceedings will be closed to the public.
On Thursday, a Nevada judge rejected an appeal by Askume and other news organizations to open the hearing to the public.
News organizations have said the fate of culturally and politically influential media outlets is a matter of public interest, but the judge noted the need to prevent leaks of confidential personal and financial information. Most documents remain sealed.
The Murdoch Trust was established in 1999 following Rupert Murdoch’s divorce from his second wife Anna. The trust is the means by which Murdoch Sr. controls News Corp and Fox, holding approximately 40% of the voting shares in both companies.
When Rupert Murdoch dies, the voting shares in News Corp and Fox will transfer to his four eldest children – Prudence, Elizabeth, Lachlan and James. Although Lachlan Murdoch runs Fox and is the sole chairman of News Corp, the three heirs are likely to vote for a fourth successor, sparking debate over the company’s future.
The Times, citing sealed court documents, reported that the amendment proposed by Rupert Murdoch would prevent any interference from Lachlan’s three siblings, who are more politically liberal.
Lachlan Murdoch is considered ideologically aligned with his conservative father. James Murdoch, a donor to progressive political groups, resigned from the News Corp board in 2020, citing disagreements over editorial content.
