Current:Home > InvestControl of the Murdoch media empire could be at stake in a closed-door hearing in Nevada -WealthMindset Learning
Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada
View
Date:2025-04-11 20:44:13
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! (145)
Related
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- What do we know about the mysterious drones reported flying over New Jersey?
- Senate begins final push to expand Social Security benefits for millions of people
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- See you latte: Starbucks plans to cut 30% of its menu
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
Ranking
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- Trump issues order to ban transgender troops from serving openly in the military
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
Recommendation
Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
All That You Wanted to Know About She’s All That
Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
Tree trimmer dead after getting caught in wood chipper at Florida town hall