Rupert Murdoch’s court battle with his kids is a real-life “Succession” plot
Rupert Murdoch’s plan to help one of his sons get more voting power and give him sole control over the companies is turning into a real-life ”Succession” plot.
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00:00Rupert Murdoch's plan to help his son Lachlan get more voting power is turning into a real-life succession plot.
00:06The 93-year-old's media empire includes Fox News and the Wall Street Journal.
00:10And he's hoping to give Lachlan sole control over his companies.
00:13Originally, a family trust decreed that voting shares were to be equally divided among his four oldest kids after Murdoch's death.
00:20But now the family is caught in a legal battle to determine how the empire gets split.
00:24This isn't the first time the power play has gone to court.
00:27A Nevada probate commissioner ruled that Murdoch could make changes as long as he was doing so in good faith and in the best interest of his heirs.
00:35The patriarch argues that this move will benefit his kids because it will prevent Lachlan's siblings from making Fox News more politically moderate and hurting its value as a conservative news outlet.
00:45But his other three children argue that the changes would violate the trust's original conditions and claim that their father is wrongfully trying to disenfranchise them.
00:54The drama will play out in court, but hearings aren't open to the public and most documents will be sealed.