A bombshell lawsuit between Rupert, Lachlan and his other children begins in Reno, Nevada, next week. Meanwhile, shareholders want change and Foxtel’s for sale.
Media baron Rupert Murdoch has made a career out of exposing other people’s affairs, misdeeds and dirty laundry – all for a handsome profit.
The document goes on to argue the establishment media is complicit in making the Murdochs’ life less safe by painting “Fox and News, and those perceived to control them, as dangers to American democracy” on the one hand and wanting to expose their deepest secrets on the other. Rupert’s gambit to reshape his Murdoch Family Trust may be one of the greatest challenges he has faced. He has battled rival billionaires such as DirecTV’s John Malone, who attempted to grab control of News Corp in the early 2000s, and a furious public backlash when News Corp’s London tabloids were found to have hacked the phones of murdered schoolgirl Milly Dowler.
On Tuesday afternoon in Nevada , the two sides will face court to discuss the trial, which begins next Monday. The three Murdoch siblings are represented by Gary A. Bornstein, the co-head of litigation at Cravath, Swaine & Moore. Rupert and Lachlan are represented by Adam Streisand, a trial lawyer at Sheppard Mullin.Trust disputes in Nevada are usually intensely private. But one activist in Nevada, a software engineer named Alexander Falconi, has argued these cases deserve more scrutiny.
“Although this is a trust matter that will formally resolve the question whether a set of modifications to a family trust agreement are valid,” he wrote, “the patent reality is that this case will discuss, analyse, and ultimately establish the succession plans that will determine the business strategies, techniques, goals, and plans that Fox and News will pursue in the marketplace for years to come.”The Murdoch’s bitter Nevada battle has triggered – or, rather, resurrected – familiar problems.
Ironically, Starboard’s argument actually may aid Lachlan and Rupert in their family Trust dispute. He and Rupert launched this bid to preserve Lachlan’s control as the heir to the Murdoch media empire, providing stability in the face of uncertainty that benefited all of the trust’s beneficiaries. Starboard could be helping them make that case.
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