According to the report, Murdoch, the 93-year-old patriarch, filed a petition late last year to amend the irrevocable family trust that would have given equal voting shares to Murdoch’s eldest four children. Instead, Murdoch wanted to grant exclusive control to his eldest son and chosen successor Lachlan, according to The Times.
Lachlan, who is more politically aligned with his father’s conservative views than his siblings, took over as chairman of Fox Corporation and News Corporation last September. Citing the court documents, which CNN has not independently seen, the Times reported that Murdoch felt handing Lachlan control of the media businesses he founded would better protect their value following his death by maintaining its right-wing editorial bent.
But the entire process has been completely sealed in Nevada, with even the existence of the proceedings kept in secret.
Not accurate at all.
Daddy and top-dog-son want to prevent the rest from moving the media business away from fringes of the right.
The claim is that they’ll devalue the inheritance for all by making it less profitable (summary only).
Great coverage a few weeks ago on NYT’s The Daily podcast if reading isn’t your thing: https://pca.st/episode/7ff0fd47-2c1c-471e-a41f-6861322838f9
That is… exactly what I’m referring to?
Petty lords squabbling over their inheritance. The king has a scheme with his firstborn, reproducing a microcosm of feudal succession.