Rupert Murdoch is involved in a legal battle with his children over his plans to hand over his global media empire to son Lachlan, according to a report.
The fight for power between the 93-year-old mogul’s four eldest children appeared to be decided when Lachlan emerged as the designated heir.
But Murdoch is now fighting to extend his eldest son’s voting power in the Murdoch Family Trust, the New York Times reported.
The mogul, 93, is in a legal battle against three of his children to ensure that his eldest son and chosen successor, Lachlan Murdoch, 52, will remain in charge of his empire and keep his media outlets conservative.
Murdoch reportedly wants to ensure that Lachlan cannot be challenged by his more politically-moderate siblings when it comes to the editorial agenda of their outlets including Fox News.
In court, Murdoch is arguing that having Lachlan run the company without interference from James, 51, Elisabeth, 55, and Prudence Murdoch, 66, will help preserve its conservative editorial stance.
Rupert Murdoch and his eldest children are embroiled in a real-life Succession drama that that echoes that of the HBO characters they inspired, according to a bombshell report. Murdoch with his sons Lachlan Murdoch (L) and James Murdoch (R) in 2016
Murdoch’s decision to name Lachlan his heir has reportedly left him estranged from his next eldest three children. Prudence and Elizabeth are pictured
He says that doing so is actually in the interests of his liberal children because keeping his outlets right-wing will help boost the profits that provide for them, it is alleged.
Murdoch was that worried that a ‘lack of consensus’ among his four children ‘would impact the strategic direction at both companies including a potential reorientation of editorial policy and content,’ the report said.
The Times adds that he also wishes to hand Lachlan ‘permanent’ and ‘exclusive’ control over the company, citing the court’s decision.
The Nevada-based family trust holds the family’s shares in Murdoch’s vast collection of television networks and newspapers through the companies News Corp and Fox Corp.
Murdoch named Lachlan as the empire’s heir, instead of James, who was seen in the running for control but who as a climate activist and liberal does not share his father’s values the way Lachlan does.
James, meanwhile, has notoriously denounced Fox News’ embrace of Donald Trump and has politics that do not match his father’s. He left Fox News when Lachlan took over.
Lachlan is currently chairman of News Corp, whose publications include the Wall Street Journal and The Sun, and chair and chief executive of Fox Corp.
The trust currently has eight votes: four controlled by Murdoch, and the remaining four controlled by the four children from his first two marriages. When Murdoch dies, as things currently stand, all four eldest children have equal say.
The latest court tussle centers on Rupert Murdoch’s alleged attempts to weigh the scales in Lachlan’s favor.
Murdoch’s youngest daughters, Chloe and Grace, from his third wife, Wendi Deng, do not have voting rights in the trust.
Murdoch is arguing that he is following a narrow provision in the trust which allows for changes done in good faith and meant to benefit all members
James has notoriously denounced Fox News’ embrace of Donald Trump and has politics that do not match his father’s. He left Fox News when Lachlan took over. Lachlan is currently chairman of News Corp, whose publications include the Wall Street Journal and the Sun, and chair and chief executive of Fox Corp
The battle for the Murdoch media empire was the real-life inspiration for HBO show Succession (pictured), which ran for four seasons
James, Elisabeth, and Prudence, however, are fighting Murdoch’s wishes in court, arguing giving Lachlan more power violates the ‘equal governance provision’ of the trust.
Murdoch, on his part, is arguing that he is following a narrow provision in the trust which allows for changes done in good faith and meant to benefit all members.
The case will be decided in a trial expected to start in September.
***
Read more at DailyMail.co.uk