Loading ...Rupert Murdoch Fails in Bid to Change Family Trust
A Nevada commissioner ruled resoundingly against Mr. Murdoch, who was trying to give full control of his empire to his son Lachlan and lock in Fox News’s right-wing editorial slant.
The commissioner, Edmund J. Gorman Jr., concluded in a decision filed on Saturday that the father and son, who is the head of Fox News and News Corp., had acted in “bad faith” in their effort to amend the irrevocable trust, which divides control of the company equally among Mr. Murdoch’s four oldest children — Lachlan, James, Elisabeth and Prudence — after his death.
The battle over the family trust is not about money — Mr. Murdoch is not seeking to diminish any of his children’s financial stakes in the company — but rather about future control of the world’s most powerful conservative media empire, which includes Fox News, The Wall Street Journal, The New York Post and major newspapers and television outlets in Australia and Britain.
That ship has already sailed. The WSJ and FOX have been tilting more and more left for a few years now. Better still, than the rest of MSM, but nothing like they once were.