Rupert Murdoch and his eldest children are embroiled in a real-life ‘Succession’ drama that echoes the HBO series it inspired, a shocking report has revealed.
The 93-year-old tycoon is currently embroiled in a legal battle with three of his children to ensure his eldest son and chosen successor, Lachlan Murdoch, remains in charge of his empire and keeps his media conservative. This was reported by the New York Times.
The power struggle between Murdoch’s four eldest children seemed settled when Lachlan emerged as the designated heir. But Murdoch is now fighting to expand his eldest son’s voting rights in the Murdoch Family Trust.
Murdoch reportedly wants to ensure that Lachlan is not challenged by his more politically moderate brothers and sisters when it comes to the editorial agenda of their media outlets, including Fox News.
Rupert Murdoch and his eldest children are embroiled in a real-life Succession drama that echoes that of the HBO characters they inspired, according to a shocking report. Murdoch with his sons Lachlan Murdoch (L) and James Murdoch (R) in 2016
The battle for the Murdoch media empire was the real-life inspiration for the hugely successful HBO series Succession, which ran for four seasons. Brian Cox played media mogul Logan Roy, with the family drama reportedly inspired by billionaire families, including the Murdochs
In court, Murdoch argues that Lachlan can run the company without interference from James, Elisabeth and Prudence Murdoch, thus maintaining the conservative editorial stance.
He says this is in the best interests of his liberal children, as it will reportedly increase the profits his media companies generate if they remain right-wing.
Murdoch was concerned that a “lack of consensus” among his four children “would affect the strategic direction of both companies, including a possible reorientation of editorial policy and content,” the report said.
The Times adds that he also wants to give Lachlan “permanent” and “exclusive” control of the company, citing the court ruling.
The Nevada-based family-owned company manages the family’s stakes in Murdoch’s vast collection of television networks and newspapers through the companies News Corp and Fox Corp.
James has notoriously condemned Fox News’ embrace of Donald Trump and has a policy that mirrors 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 CEO of Fox Corp.
Murdoch named Lachlan as heir to the empire, replacing James. James had been seen as a candidate for power, but as a climate activist and liberal, he does not share his father’s values as Lachlan does.
James, meanwhile, has infamously condemned Fox News’ embrace of Donald Trump and has policies that are 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 CEO 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 stand, all four eldest children will have equal say.
The latest lawsuit revolves around Rupert Murdoch’s alleged attempts to tip the balance in Lachlan’s favor.
Murdoch’s youngest daughters, Chloe and Grace, by 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 pictured
Murdoch argues that he is following a limited provision in the trust that allows changes made in good faith and intended to benefit all members.
However, James, Elisabeth and Prudence are challenging Murdoch’s wishes in court, arguing that giving Lachlan more power would violate the trust’s “equal governance provision.”
Murdoch claims he is following a strict provision in the trust that allows for changes to be made in good faith that benefit all members.
The case will be heard 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 report in The Times.
“James could fire me if he took over, but he doesn’t have to. I wouldn’t be the only one who wouldn’t want to work for him,” Bolt said, according to Sky News.
“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 led to him becoming estranged from his three eldest children.
The Times reports that none of them attended his wedding to his fifth wife Elena Zhukova in June.
The battle for Murdoch’s media empire inspired the hugely successful HBO series Succession, which ran for four seasons.
Media mogul Logan Roy, played by Brian Cox, repeatedly argued with three of his four children Kendall, Siobhan and Roman over who would take over from him if he died.
He became estranged from Kendall and eventually his other children, and the character died in his private jet in the series’ final season.