Authorities concluded that Rupert Murdoch and his eldest son, Lachlan, who heads Fox News Corp and News Corp, had acted in “bad faith”.
A Nevada court has rejected media mogul Rupert Murdoch’s bid to vest control of his media empire in the hands of his son, Lachlan, The New York Times reported.
Authorities concluded that Rupert Murdoch and his eldest son, Lachlan, who heads Fox News Corp and News Corp, had acted in “bad faith” in trying to amend the irrevocable trust.
The court document shows it issued a recommendation or order on Saturday.
The battle is not over money, Murdoch is not seeking to reduce his children’s financial stakes in the company, but over 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 networks in Australia and Britain.
Rupert Murdoch’s proposed amendment would have blocked any intervention by his other three children, who are more politically moderate.
Source :Skai
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