Rupert Murdoch and his eldest sons are embroiled in a real-life drama titled ‘Succession’ that mirrors the HBO show they inspired, according to a bombshell report.
The 93-year-old tycoon is currently in a legal battle with three of his children to ensure that his eldest son and chosen successor, Lachlan Murdoch, remains in charge of his empire and keeps his conservative media outlets. This was reported by the New York Times.
The power struggle between Murdoch’s four eldest sons seemed settled when Lachlan emerged as the designated heir. But Murdoch is now fighting to extend his eldest son’s voting power in the Murdoch Family Trust.
Murdoch reportedly wants to ensure that Lachlan cannot be challenged by his more politically moderate siblings when it comes to the editorial agenda of his outlets, including Fox News.
Rupert Murdoch and his eldest sons are embroiled in a real-life drama over Succession that resembles that of the HBO characters they were inspired by, according to a surprising report. Murdoch with his sons Lachlan Murdoch (L) and James Murdoch (R) in 2016
The battle over the Murdoch media empire was the real-life inspiration for the hit HBO show Succession, which ran for four seasons. Brian Cox played media mogul Logan Roy, and the family drama is said to have been inspired by billionaire families, including the Murdochs.
In court, Murdoch argues that having Lachlan run the company without interference from James, Elisabeth and Prudence Murdoch will help preserve his conservative editorial stance.
He says doing so actually benefits his liberal children because keeping their media on the right wing will help increase the profits that support them, supposedly.
Murdoch was concerned that a “lack of consensus” among his four sons “could affect the strategic direction of both companies, including a possible reorientation of editorial policy and content,” the report said.
The Times adds that it also wants to give Lachlan “permanent” and “exclusive” control of the company, citing the court decision.
The Nevada-based family trust owns the family’s stake in Murdoch’s vast collection of television networks and newspapers through the companies News Corp and Fox Corp.
James has been a vocal critic of Fox News’ embrace of Donald Trump and has a political stance that aligns with his father’s. He left Fox News when Lachlan took over.
Lachlan is currently chairman of News Corp, whose publications include the Wall Street Journal and the Sun, and chairman and chief executive of Fox Corp.
Murdoch has named Lachlan as heir to the empire, replacing James, who was seen as a contender for control but, as a climate activist and liberal, does not share his father’s values as Lachlan does.
James, meanwhile, has been a vocal critic of Fox News’ embrace of Donald Trump and has a political stance that is at odds with his father’s. He left Fox News when Lachlan took over.
Lachlan is currently chairman of News Corp, whose publications include the Wall Street Journal and British tabloid The Sun, and chairman and chief executive of Fox Corp.
The trust currently has eight votes: four controlled by Murdoch and the remaining four controlled by the four children from his first two marriages. When Murdoch dies, as things currently stand, the four eldest children will have equal say.
The latest legal dispute centres on Rupert Murdoch’s alleged attempts to tip the balance in Lachlan’s favour.
Murdoch’s youngest daughters, Chloe and Grace, from his third wife, Wendi Deng, do not have voting rights in the trust.
Murdoch’s decision to name Lachlan as his heir has reportedly alienated him from his three eldest children. Prudence and Elizabeth are pictured.
Murdoch maintains he is following a limited provision of the trust that allows changes made in good faith and intended to benefit all members.
However, James, Elisabeth and Prudence are fighting Murdoch’s wishes in court, arguing that giving Lachlan more power violates the trust’s “equal governance provision.”
Murdoch, for his part, argues that he is following a limited provision of the trust that allows changes made in good faith and intended to benefit all members.
The case will be decided in a trial expected to begin in September.
Sky News presenter Andrew Bolt said he would quit News Corp if James took over following The Times report.
“James could sack me if he took over, but he wouldn’t have to. I wouldn’t be the only one not working for him,” Bolt was quoted as saying. News from heaven.
“It’s a question of values. A question of freedom. I don’t know if he understands that.”
Murdoch’s decision to name Lachlan as his heir has reportedly alienated him from his next three eldest children.
The Times notes that neither of them attended his wedding to his fifth wife, Elena Zhukova, in June.
The battle over Murdoch’s media empire was the real-life inspiration for HBO’s hit show Succession, which ran for four seasons.
Media mogul Logan Roy, played by Brian Cox, repeatedly battled with three of his four children, Kendall, Siobhan and Roman, over who would replace him when he died.
He became estranged from Kendall and eventually his other children, and the character died on his private jet in the show’s final season.
