Home Money & Business Business Murdoch loses bid to change trust in real-life ‘Succession’ battle

Murdoch loses bid to change trust in real-life ‘Succession’ battle

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NEW YORK, NEW YORK - OCTOBER 08: Rupert Murdoch is seen on October 08, 2024 in New York City. (Photo by Gilbert Carrasquillo/GC Images)

A Nevada court commissioner has denied Rupert Murdoch’s attempt to change the family trust that governs his $20 billion media empire, thwarting his bid to give sole control to his eldest son, Lachlan Murdoch. The ruling marks a significant victory for Rupert’s other three adult children—Prudence, Elisabeth, and James—who argued that the move was made in bad faith and could destabilize the family’s future.

The commissioner described Murdoch and Lachlan’s efforts as a “carefully crafted charade,” according to reports, and sided with Prudence, Elisabeth, and James, who want to maintain equal voting rights in the trust. Established in 1999, the trust governs the future leadership of the Murdoch empire, which includes Fox News and News Corp’s global newspaper portfolio, such as The Wall Street Journal and The Times of London.

Family rift deepens over Lachlan’s leadership

MILWAUKEE, WISCONSIN – JULY 18: Businessman Rupert Murdoch attends the fourth day of the Republican National Convention at the Fiserv Forum on July 18, 2024 in Milwaukee, Wisconsin. Delegates, politicians, and the Republican faithful are in Milwaukee for the annual convention, concluding with former President Donald Trump accepting his party’s presidential nomination. The RNC takes place from July 15-18. (Photo by Leon Neal/Getty Images)

The ruling comes after years of tension within the Murdoch family. Rupert, 93, reportedly sought the amendment after becoming concerned about a “lack of consensus” among his children. Lachlan, who is politically conservative and closely aligned with Fox News’ editorial direction, was seen as his father’s choice to continue the empire’s legacy. However, his siblings have opposed consolidating power under him, citing differences in political and strategic vision.

The legal case was filed in Nevada, a jurisdiction known for its confidentiality in sensitive family trust disputes. According to court filings, Lachlan’s siblings argued that Rupert’s actions were motivated by personal bias and would lead to a monopolization of power. Rupert’s two youngest daughters, Grace and Chloe, from his third marriage, do not have voting rights under the trust agreement, further complicating the dynamics.

A real-life ‘Succession’ saga unfolds

The family dispute has drawn comparisons to the hit HBO series Succession, which depicts a fictional media dynasty embroiled in bitter power struggles. According to reports, the Murdoch children began discussing their father’s eventual death and the future of the trust after an episode of the series aired, in which the family patriarch dies unexpectedly, throwing the company into chaos. Elisabeth’s legal team even drafted a “‘Succession’ memo” to outline preventive measures against similar turmoil in real life.

What’s next for the Murdoch empire?

MILWAUKEE, WISCONSIN – JULY 17: Rupert Murdoch (L) speaks with Robert Thomson as they attends the third day of the Republican National Convention at the Fiserv Forum on July 17, 2024 in Milwaukee, Wisconsin. Delegates, politicians, and the Republican faithful are in Milwaukee for the annual convention, concluding with former President Donald Trump accepting his party’s presidential nomination. The RNC takes place from July 15-18. (Photo by Leon Neal/Getty Images)

Although the Nevada commissioner’s ruling is a major blow to Rupert and Lachlan, it is not final. A district judge will review the decision in the coming months and could issue a different verdict. In the meantime, the ruling has left the future leadership of the Murdoch empire in limbo.

For now, Rupert retains control over four of the trust’s eight votes, with each of his eldest children holding one vote. Upon his death, these votes will be equally distributed among the four, unless the trust is amended. This ensures that any major decisions regarding News Corp and Fox will require cooperation among all four siblings—something Lachlan and his father had hoped to avoid.

Broader implications for the media landscape

The outcome of this dispute could have significant implications for the media industry. News Corp and Fox are two of the most influential players in global media, shaping political discourse and public opinion in multiple countries. Analysts speculate that a divided leadership could lead to shifts in editorial direction, particularly if Prudence, Elisabeth, or James gain more influence over the company’s strategy.

Rupert Murdoch, who has been married five times, has yet to publicly comment on the ruling. Lachlan, through his legal team, has vowed to appeal the decision, signaling that the family’s high-stakes battle for control is far from over.

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