What's happened
A Nevada commissioner ruled that Rupert and Lachlan Murdoch acted in bad faith in attempting to amend a family trust. The ruling ensures equal control of the media empire among Rupert's four oldest children, potentially impacting the future direction of Fox Corp and News Corp.
Why it matters
What the papers say
According to the South China Morning Post, Commissioner Edmund Gorman found that Rupert and Lachlan Murdoch acted in 'bad faith' in their attempts to modify the irrevocable trust. The Independent elaborates that the trust was designed to ensure equal control among the siblings, which Gorman deemed essential to prevent a power grab by Lachlan. Axios highlights the implications of the ruling, noting that it maintains the ideological diversity among the heirs, which could affect the future direction of the media empire. The Guardian emphasizes the secrecy surrounding the trial, which was conducted behind closed doors despite media requests for access.
How we got here
The Murdoch family trust was established to divide control of the media empire among Rupert Murdoch's four oldest children after his death. Recent attempts by Rupert and Lachlan to amend the trust aimed to consolidate power with Lachlan, raising concerns among his siblings.
Common question
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What does the Murdoch Trust ruling mean for Fox Corp and News Corp?
The recent ruling regarding the Murdoch family trust has significant implications for the future of Fox Corp and News Corp. With equal control now ensured among Rupert Murdoch's four oldest children, questions arise about how this will affect media decisions and the overall direction of the Murdoch empire.
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