Current:Home > NewsControl of the Murdoch media empire could be at stake in a closed-door hearing in Nevada -EliteFunds
Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada
NovaQuant Quantitative Think Tank Center View
Date:2025-04-09 15:04:13
RENO, Nev. (AP) — A probate court in Nevada is set to begin reviewing evidence behind closed doors in a case that could determine who will control Rupert Murdoch’s media empire after his death.
Murdoch, 93, arrived at court Monday for the hearing. Last year, he moved to change the terms of his irrevocable family trust in a bid to ensure that his eldest son, Lachlan, remains in charge of his cadre of newspapers and television networks, including The Wall Street Journal and Fox News Channel, according to reporting by The New York Times based on a sealed court document.
Evidentiary hearings in the case are scheduled to run through Tuesday of next week. The court has kept the hearings closed to the public and most documents sealed, largely rejecting requests for access by news organizations including The Associated Press.
The trust was originally set up to give equal control over Rupert Murdoch’s businesses to his four oldest children upon his death, according to the Times.
Murdoch stepped down as leader of both Fox News’ parent company and his News Corp. media holdings last fall. He is arguing that to preserve his businesses’ commercial value for all his heirs, the trust must be changed so Lachlan can ensure his newspapers and TV networks continue to have a conservative editorial outlook, the Times reported.
Lachlan succeeded his father as chairman of News Corp. in November. He’s also executive officer at Fox Corp., home to conservative news network Fox News, the Fox broadcast and sports networks, and local TV stations. The media empire spans continents and helped to shape modern American politics.
Rupert Murdoch’s bid to change the trust has pitted him against his other three children named as beneficiaries: James, Elisabeth and Prudence, and they have united to stop their father from revising the trust, according to the Times.
Irrevocable trusts are typically used to limit estate taxes, among other reasons, and can’t be changed without permission from the beneficiaries or via a court order.
Nevada Probate Commissioner Edmund J. Gorman of the Second Judicial District Court in Reno ruled this summer that Rupert Murdoch could amend the trust if he can show that he is acting in good faith and for the sole benefit of his heirs, the Times reported.
The court’s ruling notes that Murdoch sought to give Lachlan permanent and exclusive control over his companies because the mogul was worried that a lack of consensus among his children could affect the strategic direction at his companies, including potentially leading to a change in editorial policy and content, according to the Times report.
___
Associated Press writer Alex Veiga in Los Angeles contributed to this report.
veryGood! (742)
Related
- Global Warming Set the Stage for Los Angeles Fires
- Rental application fees add up fast in a tight market. But limiting them is tough
- Supreme Court’s Unusual Decision to Hear a Coal Case Could Deal President Biden’s Climate Plans Another Setback
- Gwen Stefani Gives Father's Day Shout-Out to Blake Shelton After Gavin Rossdale Parenting Comments
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Let Your Reflection Show You These 17 Secrets About Mulan
- The $16 Million Was Supposed to Clean Up Old Oil Wells; Instead, It’s Going to Frack New Ones
- Southwest faces investigation over holiday travel disaster as it posts a $220M loss
- The Best Stocking Stuffers Under $25
- Inside Clean Energy: 7 Questions (and Answers) About How Covid-19 is Affecting the Clean Energy Transition
Ranking
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Bank of America created bogus accounts and double-charged customers, regulators say
- Inside Clean Energy: Coronavirus May Mean Halt to Global Solar Gains—For Now
- New Climate Research From a Year-Long Arctic Expedition Raises an Ozone Alarm in the High North
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Migrant girl with illness dies in U.S. custody, marking fourth such death this year
- Colorado woman dies after 500-foot fall while climbing at Rocky Mountain National Park
- Make Your Jewelry Sparkle With This $9 Cleaning Pen That Has 38,800+ 5-Star Reviews
Recommendation
Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
Rihanna Has Love on the Brain After A$AP Rocky Shares New Photos of Their Baby Boy RZA
At COP26, Youth Activists From Around the World Call Out Decades of Delay
6-year-old Miami girl fights off would-be kidnapper: I bit him
US wholesale inflation accelerated in November in sign that some price pressures remain elevated
Can you use the phone or take a shower during a thunderstorm? These are the lightning safety tips to know.
Microsoft can move ahead with record $69 billion acquisition of Activision Blizzard, judge rules
In 2018, the California AG Created an Environmental Justice Bureau. It’s Become a Trendsetter