Murdoch succession drama: How could the court case impact the running of Fox News?
A Nevada court is hearing the case initiated by media mogul Rupert Murdoch seeking to give his favored successor, son Lachlan, full control of his empire.
Media magnate Rupert Murdoch officially stepped down as president of News Corp and Fox at 92 years of age late last year. He handed the baton to his son Lachlan, who became the head of both companies in November 2023.
However, the now-93-year-old, whose family and media conglomerate are believed to have inspired the HBO series “Succession”, is shaking things up by filing a case to ensure his favored successor gets full control of his empire.
Murdoch’s other adult children- James, Elisabeth, and Prudence, are opposing their father’s move.
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Murdoch succession drama: How could the court case impact the running of Fox News?
In 1999, Rupert was divorcing his second wife Anna, who insisted on setting up an “irrevocable trust” that would ensure the tycoon’s four existing children from his first marriage to Patricia Booker and his second to Anna would each receive one share of his media holdings upon his death. This was to ensure that they would be protected against any action by Rupert’s third wife Wendi Deng, who eventually bore him two children, Grace and Chloe.
In a closed door case being held in Reno, Nevada, Rupert will now try to convince the court to hand over the reins to Lachlan, the offspring he believes would continue his vision for the company.
Lachlan has the ideology most aligned with that of his father, and has been reported to be politically more right-of-center than Rupert. That means he is most likely to seal the future of Fox News as a conservative cable news channel which has promoted former president Donald Trump as well as misinformation.
His three siblings are considered more centrist than the heir apparent, and Rupert fears they might alter the right-wing nature of Fox, and therefore, its profitability as a media company.
As the name implies, an “irrevocable trust” would be difficult to reverse. The trust can only be revoked if all those named would benefit from the action, or if the judge can be convinced that the beneficiaries cannot properly decide what is in their own best interest.
If Rupert loses his bid, his three children could end up curbing the right-wing appeal of Fox News.