Log in

Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada

Posted 9/16/24

A probate court in Nevada is set to begin reviewing evidence this week in a behind-closed-doors dispute that could determine who will control Rupert Murdoch’s media empire after his death. The New …

You must be a member to read this story.

Join our family of readers for as little as $5 per month and support local, unbiased journalism.


Already have an account? Log in to continue.

Current print subscribers can create a free account by clicking here

Otherwise, follow the link below to join.

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.

For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada

Posted

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.