Rupert Murdoch blocked from changing family trust to cement Fox News control

Dec 10, 2024

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Simone Del Rosario Anchor

By Simone Del Rosario (Anchor), Roey Hadar (Producer), Bast Bramhall (Video Editor)

Media mogul Rupert Murdoch lost in court trying to change the family trust to maintain his vision for Fox News and other properties. It’s the latest step in a real-life succession drama for the family that inspired the HBO series “Succession.”

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Rupert Murdoch, 93, wanted to change the family trust to take power away from three of his four adult children. He wanted to ensure his eldest son, Lachlan Murdoch, would succeed him after he died.

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Murdoch’s family trust

Nearly two decades ago, Murdoch set up a trust to evenly split the power over his companies between the children.

In the years that followed, Murdoch increasingly prioritized making sure Fox News maintained its conservative viewpoint.

James Murdoch and Elisabeth Murdoch are known to share less conservative views.

Rupert Murdoch spent nearly his entire life building a media empire of newspapers and TV stations.

The 93-year-old’s move to change the family trust is one he argued is in the company’s financial interests.

“Succession” plays role in Murdoch case

A Nevada judge wrote that Murdoch’s children took action after seeing an episode of the show “Succession.”

In the episode, the billionaire media mogul character died unexpectedly. In the immediate aftermath, three of his adult children quickly had to plan their next steps.

The New York Times reported James, Elisabeth and Prudence Murdoch met to discuss the response to their father’s death.

The judge’s ruling isn’t the final word. The judge served as a commissioner, sending his recommended ruling to a district judge. That ruling remains open to appeal.

There are other routes Rupert and Lachlan Murdoch could take. The two could make a deal to buy the ownership stakes from Murdoch’s other children.

Tags: Economy, Entertainment, Fox News, Nevada, news media, Rupert Murdoch, television news

SIMONE DEL ROSARIO: Media mogul Rupert Murdoch lost in court trying to change the family trust to make sure his vision for Fox News and other properties stays intact.

It’s the latest step in what’s become a real-life succession drama for the family that inspired the hit HBO drama, “Succession.”

But it wasn’t until this Nevada judge’s ruling that we learned how big of a role “Succession” played in this real-life court case.

The 93-year-old Murdoch wants to change the family trust to take power away from three of his four adult children to ensure his eldest son, Lachlan, will succeed him after he dies.

Nearly two decades ago, Murdoch had set up a trust to ensure that power over his companies would be split evenly.

But in the years that followed, Murdoch has increasingly prioritized making sure Fox News maintains its conservative viewpoint.

Murdoch’s son James and daughter Elisabeth are both known to share less conservative views than their brother and father.

Rupert Murdoch has spent nearly his entire life building a media empire of newspapers and TV stations presenting news from a right-leaning perspective, first in Australia, then in the UK and U.S.

Murdoch’s move to change the family trust is one he argues is in the company’s financial interests.

It is the latest and possibly most important development yet in a years-long drama that has tied together business and family.

And in this recent defeat, life imitated art.

The judge wrote that Murdoch’s children tookaction after seeing an episode of the show “Succession.”

In the episode, the billionaire media mogul character, the family patriarch, died. In the immediate aftermath, three of his adult children, vying to lead the company, were caught off guard and quickly had to plan their next steps.

KENDALL ROY: We are highly liable to misinterpretation. So what we do today will always be what we did the day our father died.

SIMONE DEL ROSARIO: The New York Times reported testimony in the hearings showed Murdoch’s children James, Elisabeth, and his oldest daughter Prudence, met to discuss their public relations response to their father’s inevitable death.

The judge’s ruling against Rupert Murdoch is not the final word in this case. The judge serves as a commissioner, sending his recommended ruling to a district judge. That ruling is *also* open to appeal.

And there are other routes Rupert and Lachlan Murdoch could take, including making a deal to buy the ownership stakes from Murdoch’s other children.

For Straight Arrow News, I’m Simone Del Rosario.

For more real-life “Succession” tales, search HBO SUCCESSION for this story at SAN.com or the Straight Arrow News app.