Murdoch succession drama plays out in closed court [Yahoo! Finance]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance
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 influential media outlets was a matter of public interest, but the judge cited the need to prevent disclosure of confidential personal and financial information. Most documents also remain under seal. The Murdoch trust was formed around the time of Rupert Murdoch's divorce from his second wife, Anna, in 1999. 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. Upon Rupert Murdoch's death, News Corp and Fox voting shares will be transferred to his four oldest children – Prudence, Elisabeth, Lachlan and James. Potentially, three of the heirs could out
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