Rupert Murdoch Fails in Bid to Change Family Trust

Published On Dec 9, 2024, 3:01 PM

A Nevada commissioner has ruled against Rupert Murdoch's efforts to amend his family trust, which would have given his son, Lachlan Murdoch, more control over their media empire, while favoring Fox News's conservative editorial direction. The ruling criticized the attempted changes as being in 'bad faith' and a strategy to consolidate power. The outcome is crucial for the future governance of major media entities like Fox News, The Wall Street Journal, and The New York Post.

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The ruling against Rupert Murdoch signifies potential instability in governance at Fox Corporation and News Corp. This may lead to concerns about management and direction, potentially affecting investor sentiment negatively in the short term. Additionally, if the appeal by Rupert Murdoch leads to a prolonged legal battle, it could distract from immediate business operations.

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