Current:Home > FinanceControl of the Murdoch media empire could be at stake in a closed-door hearing in Nevada -VitalEdge Finance Pro
Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada
View
Date:2025-04-16 00:22:10
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! (98)
Related
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Drone pilot can’t offer mapping without North Carolina surveyor’s license, court says
- Kennesaw State University student fatally shot in front of residence hall; suspect charged
- Taxpayer costs for profiling verdict over Joe Arpaio’s immigration crackdowns to reach $314M
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Bruce Nordstrom, former chairman of Nordstrom's department store chain, dies at 90
- Why Katy Perry Doesn't Think Jelly Roll Should Replace Her on American Idol
- Red Lobster files for Chapter 11 bankruptcy protection
- Intel's stock did something it hasn't done since 2022
- Hall of Fame Oakland Raiders center Jim Otto dies at 86
Ranking
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Bella Hadid Frees the Nipple in Plunging Naked Dress at 2024 Cannes Film Festival
- Poll: Abortion rights draws support as most call current law too strict — but economy, inflation top factors for Floridians
- 'Bachelorette' star Ryan Sutter says he and wife Trista are 'fine' amid mysterious posts
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Supreme Court turns away challenge to Maryland assault weapons ban
- Supreme Court turns away challenge to Maryland assault weapons ban
- House GOP says revived border bill dead on arrival as Senate plans vote
Recommendation
51-year-old Andy Macdonald puts on Tony Hawk-approved Olympic skateboard showing
Will Daniel Radcliffe Join the Harry Potter TV Series? He Says…
Rep. Elise Stefanik rebukes Biden and praises Trump in address to Israeli parliament
New York-Dublin video link is back up after shutdown for bad behavior
Kansas City Chiefs CEO's Daughter Ava Hunt Hospitalized After Falling Down a Mountain
NYC mayor defends police response after videos show officers punching pro-Palestinian protesters
Surprise grizzly attack prompts closure of a mountain in Grand Teton
David Ortiz is humbled by being honored in New York again; this time for post-baseball work