A pivotal court battle kicks off in the United States this Monday, focusing on the future of Rupert Murdoch’s extensive media empire and a £14.9 billion family trust.
The legal dispute involves the 93-year-old media mogul and three of his eldest children as they contest the allocation of voting shares and control over News Corp and Fox News in the wake of Murdoch’s passing.
Reports suggest Murdoch sought to revise a family trust established in 1999 to allow his son Lachlan to assume leadership without oversight from siblings Prudence, Elisabeth, and James.
The Murdoch family has long been rumored to inspire the acclaimed television series, reflecting their complex dynamics, though the family has refrained from publicly addressing the connection.
Alongside his five marriages, Murdoch also fathered two younger children, Grace and Chloe, who currently do not hold voting rights under the existing trust agreement.
Since the 1960s, Murdoch has transformed his media holdings into a global powerhouse, wielding significant political and social influence.
His enterprises include News Corporation, owner of prominent newspapers like The Times and The Sun in the UK, as well as the Wall Street Journal in the US, and Fox Corporation, which operates Fox News.
Journalist Andrew Neil documented that Murdoch began preparing his sons for roles in his media empire from their teenage years.
“Family has always been of paramount importance to Rupert Murdoch, particularly regarding the establishment of a dynasty,” Neil noted.
In 1999, the Murdoch Family Trust was intended to clarify succession strategies, facilitating roles for Murdoch’s eldest children within his businesses.
The family trust allocates eight votes that influence the governance of News Corp and Fox News, with Murdoch retaining control of four votes, while his eldest children hold one vote each.
Per the trust agreement, these votes will be equitably distributed among Murdoch’s four eldest children upon his death, though ideological differences have reportedly sparked familial discord.
Murdoch resigned from his roles as chairman of Fox and News Corp, handing the reins to Lachlan, who shares similar right-wing perspectives with his father, prompting James, Elisabeth, and Prudence to unite in opposition.
The private court proceedings are being held at the Washoe County Courthouse in Reno, Nevada, with media banned from attending. The upcoming days are expected to feature testimony from both Murdoch and the four children named in the trust, following insights from sealed court documents released recently.
Such family disputes often conclude in settlements, though prolonged legal battles may arise if either side opts to appeal.
Murdoch’s family tree includes Prudence, his eldest child from his first marriage, and children Elisabeth, Lachlan, and James, whom he had with Anna Mann, his second wife. Grace and Chloe are his daughters with Wendi Deng, and he recently remarried, making Elena Zhukova his fifth wife.
