Business & Finance / 26 July 2024
A question of succession
Australian-born media mogul/billionaire Rupert Murdoch is facing off against 3 of his children in a US court battle over who will inherit control of the family’s media empire when he dies. Court documents show the 93yo Murdoch’s move to change the terms of the Murdoch Family Trust to allow his eldest son Lachlan (aka the Aussie-based News Corporation/Fox Corporation chair) to take over the reins on his own hasn’t got the support of the whole tribe… The trust currently states that Lachlan, his younger brother James, sister Elisabeth and half-sister Prudence would all get a say in how the company runs. Lachlan – who pundits say aligns to his father’s conservative editorial instincts – has recently been put in charge of the company’s main business units, and reports say that blindsided his siblings. Talk about family politics…
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