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 chair 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 be 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 NYT 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.
Denne historien er fra July 26, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 26, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Carse justifies England faith as the archetypal bold pick
If you won a boxing match after your opponent continually punched themselves in the face, how much credit can you take?
Tenacious Diallo the key to Amorim pressing machine
Old Trafford has not seen anything like this before.
Gold King Cole packs the Bridge with merry old souls
In the 83rd minute, the ball rolled to the feet of Cole Palmer in a bubble of space outside Aston Villa's box, and the crowd snapped to attention.
Vibrant Anfield marks the changing of the Guardiola
There was a lull in the noise, a break in the Anfield atmosphere, when a defiant chant emerged from a corner near Stefan Ortega’s goal.
What is so daunting about Spain's new data checks?
Q You have written about the new “red tape” for visitors to Spain. So, as well as your usual passport details you will give a contact number, address and email. Not exactly the Spanish Inquisition, is it?
Sectarian clashes claim at least 130 lives in Pakistan
At least 130 people were killed in deadly sectarian clashes in Pakistan's northwestern Kurram district in spite of a tentative ceasefire, days after gunmen opened fire on a convoy of vehicles carrying Shia Muslims, local officials said.
Coalition government likely in Ireland as count proceeds
Fianna Fail say decisions on power-sharing for another day’
How Syria's forgotten war is back on the world's agenda
Many believed the country was lost in an unsolvable conflict, until everything changed in a matter of days, writes Bel Trew
Assad regime scrambles to halt Syrian rebels’ advance
Civilians reportedly killed by Russian and Syrian airstrikes
Mother of poisoning victim says she knew she would die
Lawyer Simone White succumbed to the effects of methanol while backpacking in Laos with two of her childhood friends
