Title: Murdoch Family Succession Battle Looms After Rupert’s Death, Reuters Reports
Date: [Current Date]
In a recently published report, Reuters has revealed that the real succession battle for the Murdoch family trust has yet to unfold, even amidst the ongoing executive transition. The potential power struggle is expected to take place after media mogul Rupert Murdoch’s passing.
It has been disclosed that the Reno, Nevada-based trust has outlined potential scenarios for a future acquisition. Currently, Murdoch Sr. exerts control over both News Corp. and Fox Corp. through this trust, holding approximately 40% of voting shares in each company. Additionally, he also possesses small stakes in external companies, which are not part of the trust.
Upon Rupert Murdoch’s death, the voting shares of News Corp. and Fox will be transferred from Murdoch to his four adult children – Prudence, Elizabeth, Lachlan, and James. However, the focus will shift to the future of these two companies, as a fierce battle for control looms.
The Murdoch Family Trust, which currently holds eight votes in total, will be divided equally among his four children. Murdoch holds four of these votes, with the remaining four controlled by his children from his previous marriages. Notably, his younger daughters, Chloe and Grace, from his third marriage to Wendi Deng, do not have any voting rights within the trust.
After the inheritance, the four older children will equally inherit Murdoch’s voting shares in the trust, confirmed Alice Enders, director of research at Enders Analysis.
Apart from the shares in News Corp. and Fox, the trust also includes other assets such as the Cruden family farm near Melbourne and the Murdoch art collection.
According to the Financial Times, both Fox and News Corp. follow a dual-class share structure, where Class A shares have no voting rights, while Class B shares carry voting rights. Murdoch’s children, who possess the shares through trusts, hold a combination of both classes.
The inevitable succession of Rupert Murdoch’s vast media empire is expected to ignite a battle for control among his children. As the future unfolds, analysts anticipate intense maneuvering and strategic moves within the Murdoch family, shaping the legacy and direction of these media giants.
The Murdoch family’s influence extends beyond the company’s holdings; it has played a significant role in shaping global media for decades. The outcome of this impending power play will undoubtedly impact the media landscape and elicit considerable interest within the industry and among the general public.
As of now, all eyes remain on the Murdoch family and the future of their influential media empire.