Owner of Fox News and The Wall Street Journal, Rupert Murdoch, is reportedly seeking to alter the terms of trust to grant his eldest son complete control of the billionaire’s most prized assets.
Who’s Left Out in This Change?
Unfortunately for the 93-year-old, his eldest son, Lachlan, is only one of six. The three press baron’s oldest children, previously included in the trust, are fighting to keep their voting shares as before this development.
While it is known that their dispute will come before a Washoe County Courthouse in Reno, Nevada, the exact proceedings and case filings remain a secret. According to NBC News, the Murdoch matter is under seal.
The family is the inspiration behind HBO’s Succession, and their unique blend of intrigue and division has sparked public curiosity. It would seem that much of this stems from differences in political opinion, where Lachlan is more closely aligned with Murdoch’s conservative outlook. The first sign of a shift in succession came when Lachlan was appointed chairman of both Fox Corp. and News Corp. last September.
Political Concerns for Murdoch
The rest of the family is more moderate, with James having notably endorsed Vice President Kamala Harris’ presidential candidacy and donated hundreds of thousands to Democratic election initiatives.
If Lachlan is granted complete control over Fox News and other Murdoch properties, it is almost certain that their conservative leaning will continue to influence national politics. It may be his father’s intention that his successor maintain their conservative voice, concerned that the other three children would push the news outlet in a more moderate direction.
The Times’ Insight
The New York Times, based on a sealed document they obtained which outlines critical issues of the case, reported that Murdoch feels that his children would have a “lack of consensus… [which] would impact the strategic direction at both companies including a potential reorientation of editorial policy and content.” On this basis, he filed a petition that amended the trust.
According to the Times, Nevada’s probate commissioner found that Murdoch could change the trust if he could demonstrate good faith, which would solely benefit his heirs.
While The Times bases their insight on the sealed court document they obtained, they, alongside The Associated Press, CNN, National Public Radio, Reuters, and The Washington Post, submitted a legal filing “seeking access to court proceedings and the unsealing of, and access to, court records and filings” about the Murdoch issue.
A Push for Access to the Proceedings
In a portion of their filing, these six companies cited that the ultimate fate of the Murdochs’ fortune and empire was a “matter of immense public interest,” further explaining that “the public also has an interest in ensuring that public courts administer justice in a proper, impartial manner.”
Beyond significant news outlets, Alex Falconi, a Nevada software engineer and advocate for courtroom access, has also filed a petition for greater public access. He requests that a camera be included in the proceedings, explaining that “Trust cases are usually of no interest to the public, [but] this case presents a rare opportunity to show Nevadans how trust cases work due to the high level of public interest.”
It remains to be seen whether some form of public access will be afforded to interested parties, but the public will be kept updated in at least one way. The Second Judicial District Court has a website listing key trial dates, including a status conference on Tuesday and an evidentiary hearing on September 19.
While technically accessible, the case is only referred to as “Doe 1 Trust,” an apparent effort to maintain anonymity despite their social station.
