financetom
Business
financetom
/
Business
/
Murdoch succession drama plays out in closed court
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Murdoch succession drama plays out in closed court
Sep 16, 2024 12:41 PM

LOS ANGELES, Sept 16 (Reuters) - A battle over control

of Rupert Murdoch's global television and publishing empire

begins Monday in a Reno, Nevada courtroom, where a judge will

consider the contentious matter of succession.

Murdoch, 93, is attempting to change the terms of the

family's trust -- which holds significant stakes in Fox News

parent Fox and Wall Street Journal owner News Corp ( NWSA )

. The billionaire is looking to ensure that, upon his

death, the media companies remain under the control of his

eldest son, Lachlan Murdoch, according to the New York Times,

which obtained a sealed court document detailing the succession

drama.

A hearing to determine whether Murdoch is acting in good

faith will take place in probate court, where the proceedings

are closed to the public.

A Nevada judge on Thursday rejected an appeal by Reuters and

other news organizations to open the hearings to the public.

The news organizations had said the fate of such culturally

and politically influential media outlets was a matter of public

interest, but the judge cited the need to prevent disclosure of

confidential personal and financial information. Most documents

also remain under seal.

The Murdoch trust was formed around the time of Rupert

Murdoch's divorce from his second wife, Anna, in 1999. The trust

is the vehicle through which the elder Murdoch controls News

Corp ( NWSA ) and Fox, with roughly a 40% stake in voting shares of each

company.

Upon Rupert Murdoch's death, News Corp ( NWSA ) and Fox voting shares

will be transferred to his four oldest children - Prudence,

Elisabeth, Lachlan and James. Potentially, three of the heirs

could out-vote a fourth, setting up a battle over the future of

the companies, even as Lachlan Murdoch runs Fox and is sole

chair of News Corp. ( NWSA )

Rupert Murdoch's proposed amendment would block any

interference by three of Lachlan's siblings, who are more

politically moderate, the Times reported, citing a sealed court

document.

Lachlan Murdoch is viewed as ideologically aligned with his

conservative father. James Murdoch, who has donated to

progressive political groups, resigned in 2020 from the News

Corp ( NWSA ) board, citing disagreements over editorial content.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Pharmaron Acquires Biortus in China
Pharmaron Acquires Biortus in China
Oct 28, 2025
To Further Enhance Structure-Based Drug Discovery and Protein Science Service Capabilities​​ BEIJING--(BUSINESS WIRE)-- Pharmaron Beijing Co., Limited ( PHBBF ) (Stock Code: 300759.SZ/3759.HK) (hereinafter referred to as “Pharmaron” and the “Company”) today announced that it has entered into a definitive Share Purchase Agreement to acquire 82.54% equity interest of Biortus Biosciences Co., Ltd. and its affiliates (hereinafter referred to as...
Lam Research Insider Sold Shares Worth $1,418,775, According to a Recent SEC Filing
Lam Research Insider Sold Shares Worth $1,418,775, According to a Recent SEC Filing
Oct 28, 2025
11:55 AM EDT, 10/28/2025 (MT Newswires) -- Ava Harter, Chief Legal Officer, on October 27, 2025, sold 9,010 shares in Lam Research ( LRCX ) for $1,418,775. Following the Form 4 filing with the SEC, Harter has control over a total of 56,786 common shares of the company, with 56,786 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/707549/000164241525000005/xslF345X05/wk-form4_1761666777.xml Price: 155.61, Change: -1.30,...
FleetPride and TruckPro Announce Strategic Merger
FleetPride and TruckPro Announce Strategic Merger
Oct 28, 2025
IRVING, Texas and MEMPHIS, Tenn., Oct. 28, 2025 /PRNewswire/ -- FleetPride Inc. (FleetPride) and TruckPro, LLC (TruckPro) jointly announced the closing of a merger of the two companies effective today, creating the nation's leading independent distributor and service provider in the heavy-duty aftermarket parts industry. The combined company will operate under the FleetPride name and will deliver enhanced value to...
Vicor Insider Sold Shares Worth $498,863, According to a Recent SEC Filing
Vicor Insider Sold Shares Worth $498,863, According to a Recent SEC Filing
Oct 28, 2025
11:55 AM EDT, 10/28/2025 (MT Newswires) -- Claudio Tuozzolo, Director, Corporate Vice President, on October 24, 2025, sold 5,508 shares in Vicor ( VICR ) for $498,863. Following the Form 4 filing with the SEC, Tuozzolo has control over a total of 33,622 common shares of the company, with 33,622 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/751978/000140354025000007/xslF345X05/primary_doc.xml Price: 89.93, Change: -0.07,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved