Rupert Murdoch's Fox, News Corp. Succession Family Drama Is Headed to Court [Yahoo! Finance]
Fox Corporation - Class B (FOX)
Last fox corporation - class b earnings: 5/10 04:03 pm
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Source: Yahoo! Finance
trust, which holds major stakes in Fox Corp. and News Corp, according to the Wall Street Journal. The 93-year-old media mogul has been looking to give his son Lachlan control of the family holdings , which include cable news, sports media, newspapers, book publishing and real estate assets. At the company's annual meeting last year, Rupert transitioned to Chairman Emeritus , while Lachlan became the sole Chair of News Corp. while maintaining his role as executive chair and CEO of Fox Corp. Under the proposed changes, Lachlan would gain control when Rupert's voting shares go away. Rupert's other son James and daughters Elisabeth and Prudence would still remain financial beneficiaries, alongside their two siblings Grace and Chloe from Rupert's marriage to Wendi Deng. But the proposed change faces pushback from James, who has support from Elisabeth and Prudence, the Journal notes. A trial to settle the dispute will be closed to the public, barring no successful legal challenges to
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