Independent

Rupert Murdoch locked in secret legal battle with children over future of media empire

Secret family battle for Murdoch empire revealed in sealed court documents: NYT

Court proceedings have begun in Reno, California concerning an attempt by Rupert Murdoch, 93, to alter the terms of his family's trust created in 1999 dictating the distribution of media company shares between his children upon his death.

Reuters

It has been reported that Murdoch is attempting to edit "irrevocable" terms of the agreement that would split shares and control of News Corp and Fox Corp between son and current chair Lachlan Murdoch and three of his siblings James, Elisabeth, and Prudence Murdoch.

Murdoch reportedly wishes for his son Lachlan to maintain control of both corporations without "interference" from other siblings after his death. The Murdoch Family Trust (believed to be worth $19.6B) owns both media companies.

BBC News

Although The New York Times has reported on the case based upon a sealed Washoe County court document, the hearing – which is expected to continue into next week – is closed to the public.

Whilst the trust owns only approximately 14% of News Corp's equity, it holds 41% of the group's voting shares. In the last year shares in Fox Corp and and News Corp have respectively risen by 24% and 30%.

www.ft.com

News Corp and Fox Corp owns media outlets such as Fox News, Sky News Australia, The Sun, The Wall Street Journal, and the New York Post.

Investopedia

Independent #5858

CNN #4723

Reuters #

Murdoch is attempting to edit "irrevocable" terms of the agreement that would split shares and control of News Corp. and Fox Corp. between son and current chair Lachlan Murdoch and his three siblings James, Elisabeth, and Prudence Murdoch.

ABC #

Murdoch wishes for his son Lachlan to maintain control of both corporations without "interference" from other siblings after his death. The Murdoch Family Trust owns both media companies and is believed to be worth $19.6B.

Murdoch Family Lawsuit Begins in Closed Court

Murdoch Family Lawsuit Begins in Closed Court

Articles on this story

Sign Up for Our Free Newsletters
Sign Up for Our Free Newsletters

Murdoch Family Lawsuit Begins in Closed Court

Murdoch Family Lawsuit Begins in Closed Court

Articles on this story

Sign Up for Our Free NewslettersSign Up for Our Free Newsletters

Sign Up for Our Free Newsletters
Sign Up for Our Free Newsletters