Source: https://www.theguardian.com/
Rupert Murdoch, aged 93, is involved in a confidential legal dispute involving his heir apparent, Lachlan Murdoch, against three of his other children—James, Elisabeth, and Prudence Murdoch. The dispute centers around altering the terms of a family trust to consolidate control of the Murdoch media empire under Lachlan, potentially excluding the other siblings from influencing company operations.
Rupert Murdoch is seeking to revise the terms of his trust to grant sole control of his extensive media holdings, including Fox News, the Wall Street Journal, the New York Post, the Australian, the Sun, and the Times in the UK, to his son Lachlan Murdoch. Currently, the trust designates equal control among Murdoch’s four eldest children upon his death, but he aims to consolidate authority specifically under Lachlan, as revealed in sealed court documents reported by the New York Times.
Rupert Murdoch contends that Lachlan Murdoch’s conservative political beliefs are crucial for preserving the value of their right-leaning media company. A recent finding by a Nevada probate commissioner suggests that the family’s irrevocable trust may be amended if Murdoch demonstrates he is acting in good faith to safeguard the trust’s assets, as reported by the Times.
Rupert Murdoch initiated “Project Harmony” to prevent a posthumous power struggle among his children, aiming to consolidate control under Lachlan Murdoch. The move surprised Murdoch’s children, who were not expecting it. Lachlan Murdoch assumed leadership of News Corporation and Fox Corporation, including Fox News, following his father’s announcement last November, marking the end of Rupert Murdoch’s influential media career spanning seven decades.
James Murdoch, once considered a potential successor to lead the Murdoch media empire, has distanced himself due to disagreements over Fox’s stance on climate change. He became a vocal critic following the January 6 insurrection, accusing US media, including Fox, of spreading falsehoods that fueled dangerous divisions. In April 2023, Fox settled a lawsuit with Dominion for $787.5 million over false claims linking Dominion to election fraud during the 2020 election.
Image Source: https://www.theguardian.com/