Rupert Murdoch's bid to consolidate control of media empire denied by Nevada Court
A court ruling blocks the media mogul’s efforts to amend his family trust in favour of his son Lachlan, citing bad faith in the proposed changes.
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Rupert Murdoch's attempt to amend his family trust and consolidate control of his vast media empire in the hands of his son, Lachlan, has been rejected by a Nevada court, as per reports.
The ruling, issued on Saturday by Nevada commissioner Edmund Gorman, came after a legal battle over changes to an irrevocable trust that could have allowed Lachlan to solidify his leadership at the expense of his siblings.
According to a report from the New York Times, the court concluded that both Rupert and Lachlan Murdoch acted in "bad faith" in their bid to alter the family trust, which was originally set to divide control of the Murdoch media empire equally among Rupert's four oldest children: Lachlan, James, Elisabeth, and Prudence.
The proposed amendment sought to give Lachlan, who currently heads Fox News parent Fox Corp, greater control, thereby blocking any interference from his politically moderate siblings. This change was designed to ensure that Lachlan would retain dominance over the media conglomerate after this father's death, while minimizing the influence of his siblings.
A lawyer representing Rupert Murdoch expressed disappointment with the ruling, stating that they intend to appeal the decision. The ruling, which is still subject to approval by a district judge, could be challenged in court.
The trust, established in Nevada—a state known for its strict confidentiality rules—was intended to ensure a balanced inheritance of the Murdoch family’s media holdings.
However, the attempt to alter the trust has sparked conflict among the family members. Lachlan’s siblings—James, Elisabeth, and Prudence—released a joint statement following the decision, expressing hope that the family could now focus on mending relationships.
