The Murdoch family's legal battle over a media empire: What you need to know [Los Angeles Times (CA)]
News Corporation - Class B (NWS)
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Source: Los Angeles Times
The 93-year-old media titan is petitioning to change his irrevocable family trust to ensure his eldest son, Lachlan, will have sole control over his media companies News Corp. and Fox Corp. after the elder Murdoch's death. News Corp. owns influential publications such as the Wall Street Journal, the New York Post, Investor's Business Daily and Dow Jones. Fox Corp. is the parent company of Fox News and the Fox broadcast network. But three of Murdoch's other children are not happy about the proposed change and have allied against Rupert and Lachlan Murdoch, according to documents obtained by the New York Times and reporting by the Journal . In the current version of the trust, Lachlan and fellow Murdoch heirs James, Elisabeth and Prudence were set to jointly inherit control of the businesses. This has set the stage for a high-powered family succession drama that has largely played out under wraps. Fox Corp. declined to comment. News Corp. did not respond to a request for commen
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