The Journal.
Rupert Murdoch’s Succession Drama Goes to Court
Sep 17, 2024
A high-stakes trial has kicked off to decide if Rupert Murdoch can alter a trust controlling family assets. His eldest son, Lachlan, is vying for control, while siblings James, Elisabeth, and Prudence oppose the changes fearing loss of power. The podcast dives into the family rift, exploring power struggles and legal maneuvers that define the Murdoch dynasty. As tensions rise, the implications for their vast media empire become increasingly critical.
18:23
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Quick takeaways
- Rupert Murdoch's attempt to change the family trust aims to consolidate control for Lachlan, highlighting deep sibling rivalries over succession.
- The legal battle surrounding the trust reveals complexities of family dynamics and its potential impact on the future governance of Murdoch's media empire.
Deep dives
Transition of Power in the Murdoch Empire
The succession of Rupert Murdoch's media empire has long been a topic of public speculation, particularly concerning who would assume control upon his retirement. After stepping back from his roles at News Corp and Fox, Lachlan Murdoch was positioned as the apparent successor, becoming the sole chairman of the companies. However, the real power lies within the family trust that governs about 40 percent of voting shares, which will split between Lachlan and his siblings upon Rupert's death. This situation creates uncertainty, as contested control suggests ongoing family rivalries and potential conflict over future decision-making.
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