Market
What will be the outcome of Rupert Murdoch's appeal on the family trust decision by December 31, 2025?
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Rupert Murdoch•Lachlan Murdoch•Nevada•Edmund Gorman•Murdoch•Fox News•News Corp•Rupert•The New York Times•Prudence•Elisabeth•James Murdoch•Gorman
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Court rulings or legal announcements
Story
Rupert Murdoch Loses Nevada Court Bid to Alter Family Trust; Commissioner Cites 'Bad Faith'
Dec 9, 2024, 09:39 PM
Rupert Murdoch has lost a legal bid to alter his family trust to consolidate control of his media empire under his eldest son, Lachlan Murdoch. Nevada probate commissioner Edmund Gorman ruled against Murdoch's attempt to change the irrevocable trust, characterizing the plan as a "carefully crafted charade" intended to "permanently cement Lachlan Murdoch's executive roles" within the empire, which includes Fox News and News Corp. The commissioner further stated that Rupert and Lachlan Murdoch had acted in "bad faith" in their effort to amend the trust. The decision, detailed in a 96-page sealed court document obtained by The New York Times, also noted that the attempt aimed to lock in Fox News's right-wing editorial slant. A spokesperson for Rupert Murdoch indicated that an appeal is expected. Meanwhile, Prudence, Elisabeth, and James Murdoch released a statement saying, "We welcome Commissioner Gorman’s decision and hope that we can move beyond this litigation to focus on strengthening and rebuilding relationships among all family members." The ruling represents a significant setback for Rupert Murdoch's succession plans, as control of the family trust remains equally divided among his four adult children.
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Trust structure changes to another arrangement • 25%
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