• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

The fight for the future of the Murdoch media empire is about to begin

by September 10, 2024
written by September 10, 2024

The battle for Rupert Murdoch’s global media kingdom is headed to the biggest little city in the world.

Murdoch, the 93-year-old billionaire press baron, reportedly wants to alter the terms of an irrevocable trust so that his eldest son, Lachlan, inherits his throne and keeps control of prized assets such as Fox News and The Wall Street Journal. But three of the mogul’s other children — James, Elisabeth and Prudence — are pushing back, insisting that all four siblings continue to receive equal voting shares.

The family feud goes before a judge at the Washoe County Courthouse in Reno, Nevada, next week, but the proceedings and case filings are shrouded in secrecy. Alicia L. Lerud, an administrator at the Second Judicial District Court, confirmed to NBC News that the Murdoch matter is under seal and “confidential pursuant to court order.” (Reno probate court frequently deals with family trusts and estates.)

In late July, however, The New York Times published an article based on a copy of a sealed court document laying out some of the case’s key issues. NBC News has not independently seen the document or confirmed its authenticity. Gary A. Bornstein, the litigator representing the three siblings, and Adam Streisand, the lawyer representing their father, did not respond to requests for comment from NBC News.

Murdoch is one of the most powerful and influential media titans of the modern age. He built a small Australian newspaper business into a mighty collection of broadcast and cable television properties. The crown jewel remains Fox News, a pillar of the American conservative movement and home to high-profile opinion hosts who staunchly defend former President Donald Trump.

The palace intrigue inside the Murdoch family has often lent itself to breathless public fascination, inspiring the HBO series “Succession” and behind-the-scenes books.

The family is divided partly by differences in political opinion — and how those beliefs could shape the future of its sprawling media empire. Lachlan Murdoch, who took over as chairman of Fox Corp. and News Corp. last September, tends to be more aligned with his father’s conservative worldview. 

James Murdoch, Elisabeth Murdoch and Prudence Murdoch are believed to be more politically moderate. James Murdoch has endorsed Vice President Kamala Harris’ presidential candidacy, and Federal Election Commission records show he has donated hundreds of thousands of dollars to Democratic congressional candidates and Democratic state parties.

The Times, citing the court document, reported that the elder Murdoch believes the “lack of consensus” among the four children “would impact the strategic direction at both companies including a potential reorientation of editorial policy and content.” The mogul filed a petition to amend the trust as he seeks to “consolidate decision-making power in Lachlan’s hands and give him permanent, exclusive control.”

Nevada’s probate commissioner found in June that Murdoch could change the irrevocable trust if the wealthy patriarch was able to demonstrate he was acting in good faith, for the sole benefit of his heirs, according to a copy of the 48-page decision cited by The Times. (Murdoch has two other children, both in their early 20s, from his third of five marriages.)

In the event Lachlan Murdoch cements control of the corporate properties, Fox News’ opinion programming will likely continue to be solidly conservative and a major influence on Republican politics. 

Fox News has been tightly linked with Trump in recent years. The company was sued by Dominion Voting Systems for airing baseless claims of vote-rigging after the 2020 election. The two sides ultimately settled for $787.5 million, heading off a jury trial.

“Rupert Murdoch has always been good at harmonizing his business interests and his ideological goals, and he seems to view Lachlan as the one sibling who can thread that needle,” said Reece Peck, an associate professor of media culture at the City University of New York-College of Staten Island and the author of “Fox Populism: Branding Conservatism as Working Class.”

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
House launches poll watcher program amid GOP-wide push for election security
next post
Trump-Harris race neck and neck nationally in new survey, pollster sees ‘warning sign’ for Dems

related articles

Paramount mandates 5-day-a-week return to office ahead of...

September 5, 2025

Apple has survived Trump’s tariffs so far. It...

September 4, 2025

Trump family’s American Bitcoin makes stock market debut

September 4, 2025

Disney to pay $10 million to settle FTC...

September 4, 2025

Crash victims’ families prepare to make what could...

September 3, 2025

Amazon cracks down on Prime free shipping sharing

September 3, 2025

U.S. judge orders Google to share search data...

September 3, 2025

Kraft Heinz to split into two companies

September 2, 2025

Rhode Island’s ‘Taylor Swift Tax’ on vacation homes...

September 2, 2025

Spirit Airlines files for Chapter 11 bankruptcy protection...

August 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Nifty and German 40: Nifty strengthens bullish momentum

    August 20, 2024
  • Aurora Cannabis posts profit with 87% EBITDA growth, shares jump 11%: Is it too late to invest?

    August 7, 2024
  • HHS halts work at high-risk infectious disease lab following repeated safety violations

    May 1, 2025
  • House Democrat presses DOJ on Ghislaine Maxwell prison transfer, meeting with top official

    August 13, 2025
  • Wizz Air launches $550 ‘all you can fly’ annual subscription pass

    August 15, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,919)
  • Investing (634)
  • Stock (921)

Latest Posts

  • Trump says he had ‘automatic chemistry’ with Vance despite past criticisms: ‘He didn’t know me’

    July 23, 2024
  • Amazon’s $4 billion investment in AI firm Anthropic faces U.K. merger investigation

    August 9, 2024
  • Complex partial seizure ruled as cause of pausing episode during House floor speech, Dem congressman says

    February 12, 2025

Recent Posts

  • Fisker (FSR) Stock: Struggles, Surprises, and the Road Ahead

    September 2, 2024
  • House GOP leaders demand accountability on Trump assassination attempt: ‘So many questions’

    July 18, 2024
  • Trump’s second term foreign policy likely to focus on ‘strength’ and ‘deterrence’: expert

    July 21, 2024

Editor’s Pick

  • ‘JOE, YOU’RE FIRED’: President Trump revokes Biden’s security clearance, intel briefings

    February 8, 2025
  • SOUN Stock is Soaring By 1.64%. Will It Maintain Its Gains?

    August 27, 2024
  • Trump takes jab at former GOP rival before praising her involvement with campaign: ‘Helping us already’

    October 18, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock