Murdoch Family's 'Succession-Style' Legal Battle For Family Trust Explained

Published: Sep 07, 2024 Duration: 00:03:27 Category: News & Politics

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this is Media Titan rubber madog a 93-year-old billionaire who owns one of the most influential media empires in the world this includes Fox News The Wall Street Journal and other outlets in Australia and UK this is Logan Roy a fictional character played by actor Brian Cox in the hit HBO drama succession off late the lives of Rupert madok and Logan Roy seem to be inching closer what makes us say that both the men one real one fictional seem to be logged in a legal battle with their children a battle over the succession of their empire while the TV drama may have concluded the real life Saga is far from over let us tell you more about it ruper madok is a revered businessman who has helped shape the media landscape in the UK us and Australia the business mul has six children four of whom are currently fighting for the control of his Empire they are lackan James Elizabeth and Prudence in September 2023 Mr Murdoch stepped down as the chairman of news corporation and fox Corporation the media Titan went on to name his eldest son llan his successor however the drama was set in motion when Mr Murdoch tried to ensure that things remained in place after his death he made a surprise move to change the terms of his IR irrevocable Family Trust giving all the power to lackan MOG the trust currently hands control of the family business to the four oldest children when Mr murdog dies but the change in terms would hand llan sole control of his father's vast collection of television networks and newspapers this has led to a family feud and a quot drama which largely remains hidden from the public eye why did Mr Murdoch have a change of heart the story seems to have a political twist lackan is more politically aligned with his father and his company's conservative views meanwhile the other three of his children are politically moderate Mr Murdoch is arguing in court that by empowering lackan to run the company without interference from his siblings he will be able to preserve its conservative editorial bent and protect its commercial value the three siblings James Elizabeth and prud were caught completely off guard by the move after all the terms of the trust were never supposed to change the three have now United to stop their father last month the NADA Court reportedly found that Mr MOG could amend the trust but on one condition that is if he could prove he's acting in good faith and for the sole benefit of his hirs a trial to determine the same is expected to start in September hanging in the balance will be the the future of the Murdoch media Empire the entire legal process has been completely sealed in Nevada even the existence of the proceedings are kept secret a collision of Western media organizations has petitioned a Nevada Court to open up the secret proceedings how will this Saga unfold we will have to wait and watch withu tanar yashar or NDTV

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