A district court will have the final say on the matter. More litigation could follow.
in a petition to change the terms of his succession plan to ensure that his eldest son Lachlan remains in charge of his conservative media empire after his death,
A Nevada commissioner on Saturday found that Murdoch acted in “bad faith” in attempting to change the terms of the irrevocable family trust — the instrument through which he controls News Corp. and Fox, according to the report. As currently constructed, the trust gives equal voting shares to his four eldest children. Although Lachlan is currently chair of News Corp.
Lawyers for Murdoch and James, Elisabeth and Prudence didn’t immediately respond to requests for comment. Adam Streisand, representing Murdoch, told theThe case now moves to a district court, which will decide whether to accept a recommended resolution by the commissioner. More litigation could follow.
A two-week saga in a Nevada court, which kept the proceedings and filings under seal, examined proposed changes to the trust. It was revealed that Lachlan initiated plans to change the trust when he began to suspect that James, who’s no longer with the company, was planning to oust him after their father’s death. He allegedly introduced the plan last year at a special meeting of the trust.
James, who at one point was seen as the heir apparent to his father’s media empire but lost a power struggle to his brother, has taken aim at his family’s business. He stepped down from the News Corp. board in 2020 due to “disagreements over certain editorial content published by the company’s news outlets.” He could have been alluding to Fox’s coverage that the election was stolen, which has led to at least threeagainst the board, plus a $787.5 million payout to Dominion Voting Systems.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump’s furious at Rupert Murdoch’s ‘obnoxious and unreadable’ newspaperMurdoch was the longtime head of News Corp — which owns The Wall Street Journal and Fox News.
Read more »
Rupert Murdoch’s New York Post Opposes Trump’s Nominations of ‘Chaos Agents’ Gabbard, GaetzSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Prince Harry’s Legal Allies Are Dropping Like Flies Against Rupert MurdochThe Duke of Sussex is on a lonely truth-seeking crusade and isn’t warring with Murdoch’s News Group Newspapers for a penny—or a pound.
Read more »
Elon Musk Has Outfoxed Rupert Murdoch in Trump’s OrbitThe bombastic X owner, backed by an army of online followers, has emerged as the right-wing tycoon with the president-elect’s ear.
Read more »
Rupert Murdoch Takes a $20 Million Loss on His New York City PenthouseThe three-floor penthouse at the One Madison building in the Flatiron District was sold for $23.8 million, a staggering loss of almost $20 million.
Read more »
Rupert Grint loses appeal in $2.3M tax case as judge rules Potter earnings taxableFormer'Harry Potter' film actor Rupert Grint faces a 1.8 million-pound ($2.3 million) bill after he lost a legal battle with the tax authorities.
Read more »