Rupert Murdoch loses initial bid to keep media empire away from his liberal kids, more litigation expected

[Jman]

https://www.hollywoodreporter.com/business/business-news/rupert-murdoch-loses-bid-change-family-trust-1236081929/
 

This could be very interesting.

[MasqueradeOverture]

[[classic swim]]

FOX possessing any sheer fragment or marble of probity before I die?

[SwimOdin]

2 hours ago, MasqueradeOverture said:

I love how much he hated this show, it makes it even better.

[Jman]

The NY Times has a detailed article on the subject, but I can’t find the archive link yet.

Quote

Rupert had always intended to bequeath his companies — a sprawling conglomerate that includes Fox News, The Wall Street Journal, The New York Post, HarperCollins and a large collection of newspapers and television outlets in Australia and Britain — to his children, much as his own father had done with a much smaller empire. But he was also determined to protect its conservative editorial bent: He had come to see the mission of Fox News in particular as vital to the future of the free world and believed that it would be a disaster if it fell into more liberal hands. His problem was that those hands now included his own children’s. Prue, Liz and James had all expressed concerns about the editorial positions of the family’s news outlets. He was now trying to reconcile his desire to keep his companies conservative with his desire to keep them in the family. Sitting on a sofa in his home in London’s Mayfair neighborhood, armed with talking points, he was going to break the news to Prue and Liz that he was changing the family trust.

 

Apparently, the trust expires in 2030 and Rupert doesn’t expect to last that long.  At that point the majority owners, his more liberal children, can merely sell off NewsCorp piecemeal, or if they take a more active hand, once Murdoch is dead, they can swing the coverage to reflect a far more liberal view, which Rupert is terrified of.

 

Edited February 14 by Jman