Media mogul Rupert Murdoch is currently embroiled in a quiet legal showdown with three of his kids. The dispute centers on the destiny of Murdoch’s media empire after his death and could impact its status as a bastion of conservative values in the future.
The 93-year-old tycoon started the family feud last year with a move amending the terms of the formidable Murdoch family trust. The change is designed to ensure his favorite son, Lachlan, keeps the reins of his global network of TV channels and newspapers. Murdoch’s bid to tweak the terms of his family trust reportedly left him estranged from three of his children.
After attempting to sway Elisabeth and Prudence with separate meetings in London—where Elisabeth slammed the proposal—the media titan pushed through the changes at an emergency trust meeting in Reno, Nevada, on December 6. Despite efforts by the trio’s representatives to halt the proceedings, the changes were approved as revealed by a sealed court document obtained by the New York Times.
This rift has now deepened, evidenced by the absence of James, Elisabeth, and Prudence at Murdoch’s recent wedding in California, though Lachlan was in attendance. Murdoch’s camp argues that the trust amendments, though the trust is irrevocable, are in good faith, intended to preserve the trust’s assets and prevent any dilution of Fox’s conservative stance by his other children.
The family, sitting on a colossal $19.5 billion fortune per Forbes, reportedly fueled the fiery drama seen in HBO’s “Succession” with their own behind-the-scenes bickering. The Australian media mogul took over a newspaper at just 22 years old following his father’s death, a former war correspondent. He expanded his influence vastly, building a media empire that now includes heavy hitters like Fox News, The Times of London, and The Wall Street Journal.
"*" indicates required fields
