[Global Times Special Correspondent Liu Haoran] The US "Hollywood Reporter" reported on the 9th that Rupert Murdoch announced his resignation in September last year and handed over his "media empire" to his eldest son Lachlan. When the outside world thought that "the dust has settled," the Murdoch family's decades-long "succession war" has reignited not long ago: This time, the old father wants to take back his second son James, his eldest daughter Prudence, The second daughter Elizabeth has equal voting rights to maintain the stability of the family business. This move completely angered these children, and the two sides have been at war with each other recently. Many media believe that the final outcome of this lawsuit is likely to affect the future direction of global English media public opinion.
Rupert Murdoch with his eldest son Lachlan (left) and second son James (right) in London. (Source: British "Guardian")
Both parties each hired a "team of lawyers"
According to the British "Guardian" report, the battle will kick off this week. Murdoch is trying to change the legal system that has been established for more than 20 years. The family trust structure concentrates voting rights in the hands of the "successor" Lachlan, which means that the second son and others will lose their right to speak in News Corporation.
The New York Times revealed that Murdoch had begun secret preparations last year and launched a legal offensive in Nevada, and his three children were caught off guard. US media said that Nevada was chosen to "start the war" because in litigation cases involving asset protection, the state's judicial authorities are "the best in the United States" in terms of confidentiality, and most details of the case will not be disclosed to the public.
As of now, both parties involved in the case have each hired a "team of lawyers." Among them, three of Murdoch's children hired Bernstein, a partner at Cosmo Law Firm. As a top law firm with a long history, Cosmopolitan ranks first among the top 100 law firms in the United States, and Bernstein is an expert in commercial dispute cases. Murdoch hired Adam Streisand, who has represented Michael Jackson, Britney Spears and many other celebrities in their estate cases. Murdoch even specially invited former US Attorney General Barr to redraft the family trust charter for him.
Shareholders and media "demand explanations"
Due to the confidentiality of the progress of the case, the court receiving the case has recently received a series of media inquiries, requesting the disclosure of litigation details. These media include the Associated Press, Reuters and the "Washington Post".
At the same time, Starboard Value, a hedge fund company that is one of the largest shareholders of News Corp., published a letter to shareholders on the 9th, saying that the Murdoch family controls too much authority over News Corp. and that Murdoch should abandon the group’s existing "Dual-class share structure." The company believes that once family members disagree due to different political opinions, the strategic deployment of the entire group may be "paralyzed." "Hollywood Reporter" stated that this day happened to be the day before Lachlan held a shareholder investor meeting at Goldman Sachs. In response, News Corporation also issued an official response, saying that the existing ownership structure helps promote stability and group transformation, and the benefits it brings to all shareholders are long-term.
A "Shakespearean" family battle
The Australian Broadcasting Corporation (abc) reported that Murdoch established a family trust structure as early as 1999 when his marriage to his second wife Anna broke down, endowment rights for his four adult children at the time. equal voting rights. As time goes by, the "three views" of Murdoch's children are increasingly different. Lachlan can inherit the mantle largely because his political views and ideas are closest to those of his father. Many media speculated that if the four siblings had one vote, Lachlan would likely be "overthrown" by the other three after Murdoch's death. From now on, News Corporation may embark on a "moderate" path instead of being generally "right-leaning" as it is now.
In recent years, there have been frequent conflicts among Murdoch’s family members due to different views.The New York Times stated that from 2015 to 2019, Lachlan and his younger brother James were jointly responsible for the group's operations, but there were rifts in the relationship between the two brothers. The main reason was that the younger brother could not understand Fox News's flattering attitude toward Trump. I am disappointed with the attitude of my brother and father who only focus on ratings. James resigned from the board of directors in 2020 and bluntly stated that his departure was due to his disagreement with relevant news reports. After the Capitol Hill riots in 2021, James insinuated Fox News for spreading rumors. James's wife, Catherine, is a climate change activist who has occasionally criticized News Corp.'s media outlets for ignoring coverage of climate change.
reported that few news events in the world have received such long-term and intensive attention like the Murdoch family's "succession battle". On the one hand, it is due to the huge political influence of News Corporation itself, and on the other hand, Because this "Shakespearean plot trend" is really "irresistible." According to insiders, Murdoch called the action of changing the family trust a "family harmony plan". He sincerely hoped to avoid a family fight after his death, but unexpectedly it had the opposite effect.
[Global Times Special Correspondent Liu Haoran] The US "Hollywood Reporter" reported on the 9th that Rupert Murdoch announced his resignation in September last year and handed over his "media empire" to his eldest son Lachlan. When the outside world thought that "the dust has settled," the Murdoch family's decades-long "succession war" has reignited not long ago: This time, the old father wants to take back his second son James, his eldest daughter Prudence, The second daughter Elizabeth has equal voting rights to maintain the stability of the family business. This move completely angered these children, and the two sides have been at war with each other recently. Many media believe that the final outcome of this lawsuit is likely to affect the future direction of global English media public opinion.
Rupert Murdoch with his eldest son Lachlan (left) and second son James (right) in London. (Source: British "Guardian")
Both parties each hired a "team of lawyers"
According to the British "Guardian" report, the battle will kick off this week. Murdoch is trying to change the legal system that has been established for more than 20 years. The family trust structure concentrates voting rights in the hands of the "successor" Lachlan, which means that the second son and others will lose their right to speak in News Corporation.
The New York Times revealed that Murdoch had begun secret preparations last year and launched a legal offensive in Nevada, and his three children were caught off guard. US media said that Nevada was chosen to "start the war" because in litigation cases involving asset protection, the state's judicial authorities are "the best in the United States" in terms of confidentiality, and most details of the case will not be disclosed to the public.
As of now, both parties involved in the case have each hired a "team of lawyers." Among them, three of Murdoch's children hired Bernstein, a partner at Cosmo Law Firm. As a top law firm with a long history, Cosmopolitan ranks first among the top 100 law firms in the United States, and Bernstein is an expert in commercial dispute cases. Murdoch hired Adam Streisand, who has represented Michael Jackson, Britney Spears and many other celebrities in their estate cases. Murdoch even specially invited former US Attorney General Barr to redraft the family trust charter for him.
Shareholders and media "demand explanations"
Due to the confidentiality of the progress of the case, the court receiving the case has recently received a series of media inquiries, requesting the disclosure of litigation details. These media include the Associated Press, Reuters and the "Washington Post".
At the same time, Starboard Value, a hedge fund company that is one of the largest shareholders of News Corp., published a letter to shareholders on the 9th, saying that the Murdoch family controls too much authority over News Corp. and that Murdoch should abandon the group’s existing "Dual-class share structure." The company believes that once family members disagree due to different political opinions, the strategic deployment of the entire group may be "paralyzed." "Hollywood Reporter" stated that this day happened to be the day before Lachlan held a shareholder investor meeting at Goldman Sachs. In response, News Corporation also issued an official response, saying that the existing ownership structure helps promote stability and group transformation, and the benefits it brings to all shareholders are long-term.
A "Shakespearean" family battle
The Australian Broadcasting Corporation (abc) reported that Murdoch established a family trust structure as early as 1999 when his marriage to his second wife Anna broke down, endowment rights for his four adult children at the time. equal voting rights. As time goes by, the "three views" of Murdoch's children are increasingly different. Lachlan can inherit the mantle largely because his political views and ideas are closest to those of his father. Many media speculated that if the four siblings had one vote, Lachlan would likely be "overthrown" by the other three after Murdoch's death. From now on, News Corporation may embark on a "moderate" path instead of being generally "right-leaning" as it is now.
In recent years, there have been frequent conflicts among Murdoch’s family members due to different views.The New York Times stated that from 2015 to 2019, Lachlan and his younger brother James were jointly responsible for the group's operations, but there were rifts in the relationship between the two brothers. The main reason was that the younger brother could not understand Fox News's flattering attitude toward Trump. I am disappointed with the attitude of my brother and father who only focus on ratings. James resigned from the board of directors in 2020 and bluntly stated that his departure was due to his disagreement with relevant news reports. After the Capitol Hill riots in 2021, James insinuated Fox News for spreading rumors. James's wife, Catherine, is a climate change activist who has occasionally criticized News Corp.'s media outlets for ignoring coverage of climate change.
reported that few news events in the world have received such long-term and intensive attention like the Murdoch family's "succession battle". On the one hand, it is due to the huge political influence of News Corporation itself, and on the other hand, Because this "Shakespearean plot trend" is really "irresistible." According to insiders, Murdoch called the action of changing the family trust a "family harmony plan". He sincerely hoped to avoid a family fight after his death, but unexpectedly it had the opposite effect.
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