Rupert Murdoch fails in bid to change family trust

A Nevada commissioner ruled resoundingly against Mr. Murdoch, who was trying to give full control of his empire to his son Lachlan and lock in Fox News’s right-wing editorial slant

Lachlan Murdoch, Rupert Murdoch and James Murdoch at the the Television Academy's 23rd Hall Of Fame Induction Gala, Beverly Wilshire Hotel, Beverly Hills, CA 03-11-14 (Photo credit: s_bukley)
Lachlan Murdoch, Rupert Murdoch and James Murdoch at the the Television Academy's 23rd Hall Of Fame Induction Gala, Beverly Wilshire Hotel, Beverly Hills, CA 03-11-14 (Photo credit: s_bukley)
Posted

A Nevada commissioner ruled resoundingly against Rupert Murdoch’s attempt to change his family’s trust to consolidate his eldest son Lachlan’s control of his media empire and lock in Fox News’s right-wing editorial slant, according to a sealed court document obtained by The New York Times.

The commissioner, Edmund J. Gorman Jr., concluded in a decision filed on Saturday that the father and son, who is the head of Fox News and News Corp., had acted in “bad faith” in their effort to amend the irrevocable trust, which divides control of the company equally among Mr. Murdoch’s four oldest children — Lachlan, James, Elisabeth and Prudence — after his death.

Click here to read more.

Comments

No comments on this item Please log in to comment by clicking here


Scroll the Latest Job Opportunities From The Media Job Board