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Murdoch engaged in legal battle with children over succession, NYT reports
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Murdoch engaged in legal battle with children over succession, NYT reports
Jul 24, 2024 5:40 PM

July 24 (Reuters) - Media mogul Rupert Murdoch is

engaged in a legal battle against three of his children to

ensure that his eldest son and chosen successor, Lachlan

Murdoch, will remain in charge of his media empire, the New York

Times reported on Wednesday.

Murdoch is trying to expand Lachlan Murdoch's voting power

in the Murdoch Family Trust to secure a majority and ensure that

he cannot be challenged by the siblings, the report said, citing

a sealed court document.

The Reno, Nevada-based family trust holds the family's

shares in Murdoch's vast collection of television networks and

newspapers through the companies News Corp ( NWSA ) and Fox Corp ( FOXA )

.

Lachlan Murdoch is chairman of News Corp ( NWSA ), whose publications

include the Wall Street Journal and the Sun, and chair and chief

executive of Fox Corp. ( FOXA )

The trust currently has eight votes: four controlled by

Murdoch, and the remaining four controlled by the four children

from his first two marriages. Murdoch's youngest daughters,

Chloe and Grace, from his third wife, Wendi Deng, do not have

voting rights in the trust.

In court, Murdoch is arguing that having Lachlan Murdoch run

the company without interference from his more politically

moderate siblings - James, Elisabeth and Prudence Murdoch - will

help preserve its conservative editorial stance, thus protecting

the commercial value for all his heirs, the report said.

Fox Corp ( FOXA ), News Corp ( NWSA ), and Murdoch's lawyer did not respond to

Reuters requests for comment while the lawyer for the three

children involved in the legal battle could not immediately be

reached.

Fox News continues to be the number one U.S. cable news

network, playing an influential role in U.S. politics,

particularly among Republicans who prize Fox's

conservative-leaning audience.

Murdoch was that worried that a "lack of consensus" among

his four children "would impact the strategic direction at both

companies including a potential reorientation of editorial

policy and content," the report said, adding that he also wishes

to hand Lachlan Murdoch "permanent" and "exclusive" control over

the company, citing the court's decision.

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