It’s been rumored that Rupert, the head of the Murdoch empire, has thrown a curveball by altering the terms of his irrevocable trust. This move, it’s said, secures his son Lachlan’s position as the heir to the family’s vast media empire.
Right now, the trust transfers ownership of Murdoch’s firms to the four eldest children when Rupert passes away. But Mr. Murdoch is claiming in court that he can only ensure the conservative editorial stance of the corporation and its financial worth for his successors by giving Lachlan exclusive control over it, apart from his more moderately, if not liberally inclined siblings.
After being taken entirely by surprise by their father’s attempt to alter an ostensibly unchangeable trust, Prudence, James, and Elisabeth banded together to thwart him. Mr. Murdoch now has Lachlan on his side. Nothing has been made public about the subsequent conflict. If Mr. Murdoch can prove he is acting honestly and only for the benefit of his heirs, the Nevada probate commissioner last month ruled that he could change the trust. In September, a trial is anticipated to begin to decide if Mr. Murdoch is honestly behaving in good faith.
The drama surrounding the succession war within the Murdoch empire is eerily reminiscent of Shakespeare’s plays, and the empire’s enormous political clout ensures that it is being keenly observed.
The family’s political opinions have differed greatly since Mr. Murdoch established the trust some twenty-five years ago. As Donald J. Trump rose to power, Lachlan and Mr. Murdoch became closer, which caused the other three members of the Murdoch family to feel uneasy because it pushed Fox News, the most influential news channel in the corporation, even farther to the right.
Both James and his wife Kathryn, who have been activists for climate change for quite some time, criticize the family enterprise in public on occasion, but they do so cautiously.
Mr. Murdoch has reportedly grown to despise James’s public critiques and grievances.
