In a scathing 96-page ruling, Rupert and Lachlan Murdoch were found to have acted in “bad faith” in their effort to amend the family trust.
A Nevada commissioner ruled resoundingly against Rupert Murdoch’s attempt to change his family’s trust to consolidate his eldest son Lachlan’s control of his media empire and lock in Fox News’ right-wing editorial slant, according to a sealed court document obtained byThe commissioner, Edmund J.
James and Elisabeth are both known to have less conservative political views than their father or brother. If Rupert fails to lock in Lachlan’s leadership of the company, he will be unable to ensure that Fox News will remain a right-wing news outlet after his death, putting in jeopardyhe had spent his life building.
If Rupert and Lachlan do not succeed in court, they could pursue other means to consolidate Lachlan’s power. One way would be for Lachlan to buy out his siblings’ stake in the company.reported on the legal battle over the family trust in July, the paper, joined by several other news outlets, filed a motion to unseal the proceedings, citing the significant public interest in its outcome. That case is ongoing.
It was that provision that Rupert and Lachlan sought to exploit. In recent years, they have grown increasingly concerned that James – who has left the company and is hardly on speaking terms with his father and brother – was planning to lead a coup with Elisabeth and Prudence to oust Lachlan after their father’s death and change the editorial slant of the company.
Rupert and Lachlan introduced their plan at a special meeting of the trust late last year. The ruling quotes a text message from Lachlan to Elisabeth on the morning of the meeting: “Today is about Dad’s wishes and confirming all of our support for him and for his wishes. It shouldn’t be difficult or controversial. Love you, Lachlan.”
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‘Carefully crafted charade’: How it all fell apart for Rupert Murdoch in NevadaIn a scathing 96-page ruling, Rupert and Lachlan Murdoch were found to have acted in “bad faith” in their effort to amend the family trust.
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‘Carefully crafted charade’: How it all fell apart for Rupert Murdoch in NevadaIn a scathing 96-page ruling, Rupert and Lachlan Murdoch were found to have acted in “bad faith” in their effort to amend the family trust.
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Rupert Murdoch fails in bid to change family trust: NYTA Nevada commissioner has reportedly ruled against Rupert Murdoch’s bid to change his family trust to consolidate control of his media empire in the hands of his son, Lachlan.
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Rupert Murdoch fails in bid to change family trust: NYTA Nevada commissioner has reportedly ruled against Rupert Murdoch’s bid to change his family trust to consolidate control of his media empire in the hands of his son, Lachlan.
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Rupert Murdoch’s bid to change family trust to consolidate media empire fails7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
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