Rupert Murdoch is embroiled in a legal battle with his children over his plans to pass on his global media empire to his son Lachlan, according to a report.
The power struggle between the 93-year-old tycoon’s four eldest children appeared to be settled when Lachlan emerged as heir to the throne.
But Murdoch is now fighting to expand his eldest son’s voting rights in the Murdoch Family Trust, the new york times reported.
The 93-year-old tycoon is locked in a legal battle with three of his children to ensure his eldest son and chosen successor, Lachlan Murdoch, 52, remains at the helm of his empire and his media remains conservative.
Murdoch reportedly wants to ensure that Lachlan is not challenged by his more politically moderate brothers and sisters when it comes to the editorial agenda of their media outlets, including Fox News.
Murdoch argues in court that Lachlan can run the company without interference from James (51), Elisabeth (55) and Prudence Murdoch (66), thereby preserving the company’s conservative editorial stance.
Rupert Murdoch, 93, is embroiled in a legal battle with his four eldest children over the future of his media empire, according to a new report. Mr Murdoch is pictured with his sons Lachlan Murdoch (L) and James Murdoch (R) in 2016
Mr Murdoch’s decision to name Lachlan as his heir has reportedly alienated him from his three eldest children. His daughters Prudence and Elizabeth are pictured (left and right)
He says this is in the best interests of his liberal children, as it will reportedly increase the profits his media companies generate if they remain right-wing.
Murdoch was concerned that a “lack of consensus” among his four children “would affect the strategic direction of both companies, including a possible reorientation of editorial policy and content,” the report said.
The Times adds that he also wants to give Lachlan “permanent” and “exclusive” control of the company, citing the court ruling.
The Nevada-based family-owned company manages the family’s stakes in Murdoch’s vast collection of television networks and newspapers through the companies News Corp and Fox Corp.
Murdoch named Lachlan as heir to the empire, replacing James. James had been seen as a candidate for power, but as a climate activist and liberal, he does not share his father’s values as Lachlan does.
James, meanwhile, has infamously condemned Fox News’ embrace of Donald Trump and has policies that are at odds with his father’s. He left Fox News when Lachlan took over.
Lachlan is currently chairman of News Corp, whose publications include the Wall Street Journal and The Sun, and chairman and CEO of Fox Corp.
The trust currently has eight votes: four controlled by Murdoch, and the remaining four controlled by the four children from his first two marriages. When Murdoch dies, as things stand, all four eldest children will have equal say.
The latest lawsuit revolves around Rupert Murdoch’s alleged attempts to tip the balance in Lachlan’s favor.
Murdoch’s youngest daughters, Chloe and Grace, by his third wife, Wendi Deng, do not have voting rights in the trust.
Murdoch argues that he is following a limited provision in the trust that allows changes made in good faith and intended to benefit all members.
James has notoriously condemned Fox News’ embrace of Donald Trump and has policies that are at odds with his father’s. He left Fox News when Lachlan took over. Lachlan is currently chairman of News Corp, whose publications include the Wall Street Journal and the Sun, and chairman and CEO of Fox Corp.
However, James, Elisabeth and Prudence are challenging Murdoch’s wishes in court, arguing that giving Lachlan more power would violate the trust’s “equal governance provision.”
Murdoch claims he is following a strict provision in the trust that allows for changes to be made in good faith that benefit all members.
The case will be heard in a trial expected to begin in September.
