For those suffering Succession withdrawal – a great scoop from the New York Times https://t.co/t5XlTGT75a
— Nick Bryant (@NickBryantNY) July 24, 2024
Rupert Murdoch is locked in a secretive legal battle against three of his children over the future of his media empire. The 93-year-old media mogul is trying to change the terms of a long-standing family trust to give his eldest son, Lachlan more power. The trust set up nearly 25 years ago, states that control of the family business would pass to Murdoch’s four oldest children – Lachlan, James, Elisabeth, and Prudence – after his death.
Hell of a story from the kids at the NYT
Rupert is in court secretly trying to undo his promise to give his four eldest children equal say in the future of the media empire – and to deliver lasting control to Lachlan.
Their report: https://t.co/4toQMLvHFR
— David Folkenflik (@davidfolkenflik) July 24, 2024
But Murdoch now wants to alter the trust to let Lachlan run the company without interference from his more liberal siblings. Murdoch believes this change is needed to keep the company’s conservative editorial stance, which he sees as key to protecting its financial value for all his heirs.
Murdoch family’s internal power struggle
This is a MEGA Murdoch scoop from @jimrutenberg and @jonathanmahler.
If "Veep" is now real life, so is "Succession"…. https://t.co/gLD34UeOok
— Michael M. Grynbaum (@grynbaum) July 24, 2024
However, James, Elisabeth, and Prudence are surprised by their father’s move and unite to stop Lachlan from getting uncontested control. The family conflict is happening privately for now. Last month, a Nevada court said Murdoch might be able to change the trust if he can show he is acting in good faith and only to benefit his heirs.
A trial to decide this is set for September. The trial’s result could greatly affect the future of one of the English-speaking world’s most politically powerful media companies. As the legal fight unfolds, the public and stakeholders closely watch who will lead the iconic media giant next.
