Rupert Murdoch, the 93-year-old media magnate with holdings such as Fox News and The Wall Street Journal, recently lost a legal battle to amend the terms of his family trust. The Nevada probate commissioner ruled against Murdoch’s attempt to grant his eldest son, Lachlan, sole control of the family media empire. The trust, established during Murdoch’s divorce from his second wife, ensures equal voting shares for his four children and is irrevocable, making amendments challenging. This dispute, reminiscent of an episode of HBO’s Succession, carries significant implications for the future leadership and editorial direction of influential media organizations … (more)
[Gerry W Beyer, Wills, Trusts & Estates Prof Blog, 22 December 2024]
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