LOS ANGELES (Reuters) – A battle for control of Rupert Murdoch’s global television and publishing empire begins Monday in a Reno, Nevada courtroom. A judge will consider the contentious succession matter. The Murdoch succession drama is unfolding behind closed doors, revealing intense family disputes over the future of the media empire. #MurdochSuccessionDrama
Murdoch, 93, is attempting to change the terms of the family’s trust — which holds significant stakes in Fox News parent Fox and Wall Street Journal owner News Corp. The billionaire is looking to ensure that, upon his death, the media companies remain under the control of his eldest son, Lachlan Murdoch, according to the New York Times, which obtained a sealed court document detailing the succession drama.
A hearing will determine if Murdoch is acting in good faith. This hearing will occur in probate court, which remains closed to the public.
A Nevada judge on Thursday rejected an appeal by Reuters and other news organizations to open the hearings to the public.
The news organizations argued that the fate of these influential media outlets is a matter of public interest. However, the judge cited the need to protect confidential personal and financial information. As a result, most documents remain under seal.
The Murdoch trust was established around Rupert Murdoch’s divorce from his second wife, Anna, in 1999. This trust allows Murdoch to control News Corp and Fox. It holds about a 40% stake in the voting shares of each company. #MurdochSuccessionDrama
While the court remains closed to outsiders, the implications of these decisions could reshape the media landscape significantly. Consequently, industry observers eagerly await the outcomes.
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