Current:Home > ScamsControl of the Murdoch media empire could be at stake in a closed-door hearing in Nevada -WealthConverge Strategies
Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada
View
Date:2025-04-12 07:06:02
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! (92391)
Related
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- Young Latinos unable to carry on a conversation in Spanish say they are shamed by others
- Pennsylvania state government will prepare to start using AI in its operations
- UAW strike latest: GM sends 2,000 workers home in Kansas
- Trump wants to turn the clock on daylight saving time
- Police arrest second teen in Vegas hit-and-run of police chief after viral video captures moment
- UNESCO adds World War I remembrance sites to its prestigious heritage registry
- Rough surf batters Bermuda as Hurricane Nigel charges through open waters
- Retirement planning: 3 crucial moves everyone should make before 2025
- Trump’s New York hush-money criminal trial could overlap with state’s presidential primary
Ranking
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Man who shot Black teen who mistakenly went to his door enters not guilty plea; trial is scheduled
- Sports Illustrated Resorts are coming to the US, starting in Tuscaloosa, Alabama
- South Korean lawmakers vote to lift opposition leader’s immunity against arrest
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Inside a Ukrainian brigade’s battle ‘through hell’ to reclaim a village on the way to Bakhmut
- Swiss parliament approves ban on full-face coverings like burqas, and sets fine for violators
- Sufjan Stevens is relearning to walk after Guillain-Barre Syndrome left him immobile
Recommendation
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
Having a hard time finding Clorox wipes? Blame it on a cyberattack
The Games Begin in Dramatic Hunger Games: Ballad of Songbirds & Snakes Trailer
TikToker Alix Earle Reflects on Her Dad's Affair With Ashley Dupré
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
Jason Kelce Says Taylor Swift and Travis Kelce Romance Rumors Are 100 Percent True
'Concerns about the leadership' arose a year prior to Cavalcante's escape: Officials
Sweden’s central bank hikes key interest rate, saying inflation is still too high