Rupert Murdoch begins trial to determine fate of £24bn media empire

Rupert Murdoch argues that his younger children could dilute Fox News’ right-wing appeal, risking its audience; he believes his eldest child Lachlan will keep the broadcaster’s hard-right stance

Tom Watling
Monday 16 September 2024 15:50 EDT
Comments
Rupert Murdoch is set to arrive in Nevada for a trial on which of his children can take over his media empire
Rupert Murdoch is set to arrive in Nevada for a trial on which of his children can take over his media empire (AP)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

A trial that could determine who takes over Rupert Murdoch’s £24 billion media empire has kicked off in Nevada.

The future of Fox News, a dominant force in television and conservative politics, as well as The Times and The Wall Street Journal, is now in the hands of a probate court official in Reno, Nevada.

Murdoch, 93, seeks to amend his trust to grant full control to his eldest son, Lachlan, who currently oversees their companies.

Three of Lachlan’s siblings, who stand to share control after their father’s passing, oppose this move. The two youngest children, from Rupert Murdoch’s third marriage, are set to benefit financially but have no promised control.

In Reno, Murdoch argues that his other children might dilute Fox News’ right-wing appeal, risking its audience. Rupert and his four oldest children are expected in court this week, with Murdoch staunchly defending his right to determine the future of the empire he built from a single paper in Adelaide to a $32 billion (£24 billion) global powerhouse.

The stakes are monumental, viewed as the inspiration for the HBO drama Succession. At the heart of the battle is the future direction of Fox News — whether it should continue its partisan, right-wing stance or adopt a more balanced approach to maintain its identity and revenue.

Lachlan’s siblings, particularly his brother James, are less supportive of the hard-right position. James has openly criticised the network’s pro-Trump and anti-news populism.

From left, Lachlan Murdoch, Rupert Murdoch and James Murdoch arrive at St Bride’s Church for the celebration ceremony of the wedding of Rupert Murdoch and Jerry Hall in London in 2016
From left, Lachlan Murdoch, Rupert Murdoch and James Murdoch arrive at St Bride’s Church for the celebration ceremony of the wedding of Rupert Murdoch and Jerry Hall in London in 2016 (Joel Ryan/Invision/AP)

Murdoch’s bid to alter the trust was first reported by the New York Times. The probate commissioner has ruled the proceedings confidential, denying requests to make the trial public.

The dispute dates back to a decision Murdoch made decades ago to create an irrevocable family trust, ensuring equal shares and control among his four oldest children after his death. This arrangement emerged from his divorce settlement with Anna Torv Murdoch Mann, who received $110 million (£83 million) and agreed to avoid a drawn-out battle over his media assets.

Lachlan ultimately emerged victorious from years of rivalry with James, now serving as executive chairman of Fox Corp. and chairman of News Corp. While News Corp.’s stock has surged under his leadership, Fox Corp. has faced a rockier path, plagued by legal scandals and defamation suits.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in