Rupert Murdoch loses bid to change family trust [Yahoo! Finance]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance
A Nevada commissioner ruled against Murdoch on Monday, The New York Times reported , writing the elder Murdoch had acted in “bad faith” as his legal team sought to amend a family trust that currently divides control of the company among his four adult children. Murdoch, 93, late last year ceded his position as executive chair of Fox and News Corp to Lachlan Murdoch, who now presides over a sprawling media empire that includes Fox News, The Wall Street Journal and the New York Post. The commissioner's ruling will make it harder for the elder Murdoch to shore up the conservative bend Fox and News Corp properties are known for and Lachlan Murdoch has sought to uphold. A lawyer for Rupert Murdoch told the Times he intends to appeal the ruling. Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to The Hill.
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