Future of Murdoch Empire Comes Down to a Court in Nevada
Published On Sep 13, 2024, 5:03 AM
Rupert Murdoch is in a legal battle with some of his children over who should control his media empire after his death. A Nevada probate official will decide if Murdoch can change the terms of a family trust established two decades ago, which currently gives equal voting rights to his eldest children. Murdoch wants his son Lachlan to have full control, fearing that his other children will outvote him and push the media towards a more centrist direction rather than maintaining its hard-right stance.
Stock Forecasts
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The outcome of the proceedings could affect Fox News and other Murdoch-owned media outlets significantly, potentially impacting their operational direction and political alignment. If Lachlan gains control, it may lead to a continued strong right-wing narrative, which could boost investor confidence in those media stocks. Conversely, a change towards a more centrist control may alienate some of the existing viewer base, leading to potential dips in advertising revenue and overall company performance.
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