Rupert Murdoch‘s eyebrow-raising attempt to restructure the family trust that governs Fox Corp. and News Corp. was rebuked last week in probate court in Las Vegas, thwarting — at least for now — the media mogul’s efforts to change the dictates of how four of his children, including current Fox CEO Lachlan Murdoch might govern the companies after he dies.
The New York Times reported Monday that Murdoch’s bid to ensure Lachlan had control over the companies was rejected by Edmund J. Gorman Jr, a commissioner in probate court in Las Vegas, where Murdoch had filed the case to amend the irrevocable family trust. At present, the trust ensures four of his children — Lachlan, James, Prudence and Elisabeth — will have equal say in governing how Fox Corp. and News Corp. are run Their wishes could have significant effects on the direction of such assets as Fox News Channel, the conservative cable network that has enjoyed an outsize influence on Republicans and right-wing viewers.
Rupert Murdoch intends to appeal the decision, according to a person familiar with the matter. Adam Streisand, an attorney representing Rupert Murdoch in the matter, could not be reached for immediate comment. Representatives of Fox Corp. and News Corp. could also not be reached for immediate comment.
More to come….
–Gene Maddaus contributed to this story
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