Murdoch succession battle to play out in Nevada courtroom [Yahoo! Finance Canada]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance Canada
By Dawn Chmielewski RENO, Nevada (Reuters) - A closed-door court battle over control of Rupert Murdoch's media empire begins Sept. 16, and could determine the future of Fox News and the Wall Street Journal. Murdoch, 93, is attempting to change the terms of the family's irrevocable trust to ensure his newspapers and television networks remain under control of his eldest son and chosen heir, Lachlan Murdoch, according to the New York Times, which obtained a sealed court document detailing the succession drama. Reuters and other news organizations are attempting to gain access to sealed court records, and to open the court hearings in Reno, Nevada, before probate commissioner Edmund J. Gorman Jr. The trust lays out a scenario on how a potential takeover could occur, according to a source who has seen the documents. The trust is the vehicle through which the elder Murdoch controls News Corp and Fox, with roughly a 40% stake in voting shares of each company. Murdoch also holds a s
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- Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada [Yahoo! Finance Canada]Yahoo! Finance Canada
- Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada [Yahoo! Finance Canada]Yahoo! Finance Canada
- Control of the Murdoch media empire could be at stake in a closed-door hearing in Nevada [Yahoo! Finance]Yahoo! Finance