Rupert Murdoch Fights His Kids in Court Over Media Empire: Report [Yahoo! Finance]
Fox Corporation - Class B (FOX)
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Source: Yahoo! Finance
Murdoch, 93, has urged a court to block three of his children— James , Elisabeth, and Prudence—from gaining control of his family's business after he dies, according to a document obtained by The New York Times Instead, Murdoch wants to give it to his eldest son, the politically like-minded Lachlan , to maintain the organization's conservative bent and not ruin its market capitalization. To achieve the family lockout, Murdoch sought to amend an irrevocable family trust that would have split control of the trust between the four heirs—unless Murdoch could show how his plan to change it would benefit each child. The document obtained by the Times outlined a review of the case's facts by a probate commissioner, Edmund Gorman Jr. (Gorman did not immediately respond to a request for comment.) Why I Can Never Forgive Rupert Murdoch Murdoch argued to a Reno, Nevada, court that only Lachlan could maintain its current commercial value, thereby providing financial windfalls to each of hi
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