Rupert Murdoch fights for control of his empire with children

The story, which is strikingly similar to the critically acclaimed MAX series “Succession”, is a true story. The struggle for power, intrigue, sudden plot twists – all these terms could describe the situation in the Mudroch family, in whose hands a real media empire is concentrated.

“Wall Street Journal”, “New York Post”, as well as the British “Times” and “Sun”, and finally the well-known conservative television “Fox” – these are just a few of the hundred titles controlled by Rupert Murdoch's companies.

The prospect of taking control of such a lucrative and large business contributed to conflict between Murdoch himself and his children.

The billionaire recently changed the succession plans among his children. Previously, the control over the business was to be divided between the billionaire's four descendants. According to the new plan, only one of Rupert Murdoch's sons – Lachlan Murdoch – would remain the heir.

The other three did not like this, and they took the case to court, as reported by The New York Times. The daily also published documents regarding the details of the case. They show that Murdoch recently decided to change the provisions regarding the voting rights of his four children in deciding the future of his company in the aforementioned Murdoch Family Trust.

Under the current rules, each of their votes has equal weight. However, this is set to change in favor of Lachlan Murdoch, who would gain an advantage that could not be overcome by the votes of his siblings. The move enraged the three siblings, who challenged the decision in court.

In the background, there are concerns about changes in the political and ideological course of the Murdoch-owned media. James, Elisabeth and Prudence Murdoch have much more moderate views than the famously conservative Rupert and Lachlan Murdoch.

The doyen of the family himself is afraid of a revolution in the message – he had previously argued that it could have a negative impact on the value of the entire empire, and thus on the financial condition of the entire family.

The family trust based in Reno, Nevada, has a stake in the media empire.

Lachlan Murdoch is chairman of News Corp, which owns The Wall Street Journal and The Sun, and chairman and chief executive of Fox Corp.

The shares are currently divided into eight parts: four controlled by Murdoch and the other four controlled by his four children from his first two marriages. Murdoch's youngest daughters, Chloe and Grace from his third wife, Wendi Deng, have no voting rights in the trust.

Fox News remains the number one U.S. cable news network, playing an influential role in American politics, particularly among Republicans who value Fox's conservative audience.