Murdoch Succession Plan Faces Setback As Commissioner Rejects Eldest Son's Control

Rupert Murdoch's attempt to change the billion-dollar family trust to favor his eldest son, Lachlan, hit a roadblock.

What Happened: In a ruling that reads like an episode of “Succession,” Commissioner Edmund J. Gorman Jr. essentially threw cold water on Murdoch's trust fund shuffle.

According to the New York Times, Gorman’s scathing critique of Murdoch came across in a 96-page document. The plan to "permanently cement Lachlan Murdoch's executive roles" inside the family’s media empire seemed like a "carefully crafted charade," Gorman wrote.

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Murdoch reportedly planned to amend the family trust, potentially solidifying Lachlan’s role in overseeing Fox News and its editorial direction.

The problem? Fairness. The trust, as it stands, gives equal control to Murdoch's four oldest children: Lachlan, James, Elisabeth, and Prudence.

While Lachlan currently holds the roles of executive chairman and CEO of Fox Corporation and chairman of News Corporation NWSA, he does not have full control of the company.

Murdoch's other children — James, Elisabeth and Prudence — reportedly oppose the trust amendment. They’re also believed to be less conservative than Lachlan, per The Guardian.

Why It Matters: Murdoch, 93, a billionaire media mogul known for his role in shaping modern cable programming, faces a high-profile legal ruling that some see as a significant setback.

The Murdoch media empire extends beyond Fox News to include The Wall Street Journal and The New York Post, which are often characterized by their conservative editorial stances.

While good for ratings and readership, that take has cost Murdoch millions in legal penalties.

Recall last year when Fox had to pay a record $787.5 million settlement in a defamation lawsuit from Dominion Voting Systems. Murdoch and company defended against allegations that they made false claims about the 2020 election.

What’s Next: The family squabble is unlikely to end soon, as Murdoch's lawyer, Adam Streisand, has promised to appeal.

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