For fans experiencing Withdrawal from Succession, there’s an excellent scoop in the New York Times. https://t.co/t5XlTGT75a
— Nick Bryant (@NickBryantNY) July 24, 2024
Rupert Murdoch finds himself in a discreet legal showdown with three of his offspring concerning the destiny of his media empire. At the age of 93, the media magnate aims to revise the conditions of a longstanding family trust to provide his eldest son, Lachlan, with greater authority. Established nearly a quarter-century ago, the trust stipulates that leadership of the family business would transfer to Murdoch’s four eldest children—Lachlan, James, Elisabeth, and Prudence—upon his passing.
Incredible reporting by the team at the NYT
Rupert is clandestinely in court attempting to undo his commitment to share control of the media empire equally among his four eldest children—favoring Lachlan with decisive power.
Check out their report: https://t.co/4toQMLvHFR
— David Folkenflik (@davidfolkenflik) July 24, 2024
Currently, Murdoch seeks to modify the trust so that Lachlan can manage the company without intervention from his more progressive siblings. Murdoch argues that this adjustment is essential to maintain the company’s conservative editorial line, which he believes is crucial for safeguarding its financial worth for all of his heirs.
The ongoing power struggle within the Murdoch family
This is a significant scoop on Murdoch from @jimrutenberg and @jonathanmahler.
If “Veep” is becoming reality, so is “Succession”… https://t.co/gLD34UeOok
— Michael M. Grynbaum (@grynbaum) July 24, 2024
Nonetheless, James, Elisabeth, and Prudence are taken aback by their father’s actions and have banded together to prevent Lachlan from gaining undisputed control. For the time being, the family discord remains private. Recently, a court in Nevada indicated that Murdoch might be allowed to alter the trust if he can demonstrate he is acting in good faith and solely for the benefit of his heirs.
A trial to resolve this issue is scheduled for September. The outcome of this trial could significantly influence the future of one of the most politically influential media companies in the English-speaking world. As the legal dispute unfolds, both the public and stakeholders are keenly observing who will captain the esteemed media giant moving forward.
