Murdoch Family Begins Family Trust Hearing in Closed Court
Murdoch Family Begins Family Trust Hearing in Closed Court
The Facts
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.
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.
The Spin
The Murdoch media empire is following directly in the footsteps of TV drama Succession as Rupert Murdoch and his son Lachlan seek to defend their right-wing agenda by attempting to unwind their family's legal rights. With the court case shrouded in mystery, only time will tell whether the media mogul is successful in his attempts to ostracize his children for the sake of ideology and profit margins.
Murdoch's family seeks to bite the very hand that has fed them for decades. Whether they like it or not, the fortunes amassed by the media mogul are a direct consequence of its unique focus on right-wing coverage, and any attempt to change this is to endanger all that the family has built. Having de facto run both corporations for over half a decade and proudly holding conservative opinions, it is only natural that Lachlan Murdoch is the rightful successor.
