Rupert Murdoch’s Proposal to Revise Family Trust Denied
A probate commissioner in Nevada has denied Rupert Murdoch’s request to centralize control of his media empire under his son Lachlan upon his passing, rather than distributing it among four of his children.
Murdoch, aged 93, aimed to modify a trust that safeguards the family’s assets, including approximately 40 percent voting shares in News Corp and Fox Corporation, the parent company of Fox News. News Corp ultimately oversees Times Media, which publishes The Times.
Nevada commissioner Edmund Gorman rejected the proposal from Murdoch and his eldest son to alter the irrevocable trust, as reported by the New York Times. The court filing remains confidential.
The current trust structure equally allocates company control among Rupert Murdoch’s four elder children—Lachlan, James, Elisabeth, and Prudence—upon his death. Additionally, Murdoch has two younger children, Grace and Chloe, who are beneficiaries of the trust but lack voting rights.
Murdoch’s suggestion involved changing the family trust to reinforce Lachlan’s leadership role within the family’s media operations posthumously and prevent interference from his three siblings.
Murdoch reportedly believes that transferring control to Lachlan would provide stability for the businesses and eliminate an ambiguous ownership arrangement.
Adam Streisand, representing Rupert Murdoch, expressed disappointment over the decision and indicated plans to appeal.
In a joint statement, Lachlan’s siblings James, Elisabeth, and Prudence conveyed their hope that the family would prioritize repairing their relationships.
“We appreciate Commissioner Gorman’s ruling and wish to move past this legal dispute to focus on strengthening and rebuilding family relationships,” the siblings stated.
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