Rupert Murdoch, 93, started and owns one of the largest media conglomerates in the world but that might soon change. Murdoch owns the Fox Corporation which includes Fox News, Fox Business, Fox Sports, as well as other Fox brands. He also owns News Corp which encompasses The Sun, The Times, and News UK, which runs many other UK-based news outlets. Originally, the Murdoch family media empire was supposed to be handed off to the four eldest siblings, but a few years ago Rupert tried to rewrite the trust giving sole control to the oldest son Lachlan.
Rupert wants to give all control to Lachlan because they both have the same vision for the company, as for the next three siblings James, Elizabeth, and Prudence, they want to take the corporation in less of a conservative direction. Once the three younger siblings found out about this plan they protested it in a Nevada court. In December the Judge ruled against Rupert's changes to the trust allowing James, Elizabeth, and Prudence to keep their share. Rupert had named this operation “Project Family Harmony.” This might have added to the reason the judge made the comments that Rupert and Lachlan acted in bad faith when trying to change the will.
This ruling has major implications for the future of the Murdoch Media empire as well as for global news and politics. It is no secret that Rupert wanted to keep Fox and all the subsidiaries a strong and prominent conservative voice in the media world with Lachlan in charge. With James, Elizabeth, and Prudence keeping their voting rights they will be able to keep their voting rights in the company and will be able to oppose Lachlan if he acts against their wishes for the company. Another possibility is that the trust will be dissolved in 2030 when it expires. If this happens it will allow the siblings to sell off their shares of the company which will remove any Murdoch input from the company. No matter what happens this case will have serious ramifications for the future of news media in America and the rest of the World.
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