The fate of the Rupert Murdoch news empire, including Fox News, is being decided in a Nevada courtroom with the 93-year-old waging a legal battle against several of his children over their family trust.
The elder Murdoch wants to change the structure so that his eldest son and chosen successor Lachlan – who is more politically aligned with his father than the other children – will remain in charge for decades to come and maintain its right-wing editorial bent. But his three other eldest children, who have more moderate views, are fighting the change.
Bill Barr is representing the elder Murdoch.
The drama is taking place behind closed doors in a probate court, under seal are nearly all details of the dispute, which began on Monday — and media organizations are fighting to find out more. A group of news organizations petitioned the Nevada Supreme Court on Thursday to unseal the details, arguing that the public has immense interest in the future of the empire that would affect thousands of jobs, consumers, and the American political landscape.
The four elder children are currently poised to share control equally after Rupert dies. Two other younger children from a third marriage would share in the financial windfall but would have no operational control over the businesses. At stake is $32 billion.
Eldest son Lachlan is currently running the companies, which include Fox News, the Wall Street Journal, the New York Post, the Times of London, and the Australian.
Under Lachlan’s leadership, the news conglomerate’s stock price has soared, but Fox has seen a bumpier road.
Because the trust allows for amendments that benefit all the heirs equally, Papa Murdoch has argued that placing only Lachlan in charge would preserve the outlets’ financial success in a way that would mean more money for all of the children.
Over the years, various children have flitted in and out of favor with their father. Rupert pitted the two boys, in particular, against each other. Prudence, the eldest by his first wife, often served as her dad’s adviser as she forswore any corporate ambition. Elisabeth attended the Super Bowl in early 2023 with Rupert (and Elon Musk). She did not attend her father’s wedding earlier this year. Neither did James. By then, they were already on opposing sides in court.
