Murdoch succession drama plays out in closed court [Yahoo! Finance Canada]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance Canada
By Dawn Chmielewski LOS ANGELES (Reuters) - A battle over control of Rupert Murdoch's global television and publishing empire begins Monday in a Reno, Nevada courtroom, where a judge will consider the contentious matter of succession. Murdoch, 93, is attempting to change the terms of the family's trust -- which holds significant stakes in Fox News parent Fox and Wall Street Journal owner News Corp. The billionaire is looking to ensure that, upon his death, the media companies remain under the control of his eldest son, Lachlan Murdoch, according to the New York Times, which obtained a sealed court document detailing the succession drama. A hearing to determine whether Murdoch is acting in good faith will take place in probate court, where the proceedings are closed to the public. A Nevada judge on Thursday rejected an appeal by Reuters and other news organizations to open the hearings to the public. The news organizations had said the fate of such culturally and politically
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