Summary
The Murdoch family, known for their media influence, is experiencing a significant rift. Rupert Murdoch's children Elisabeth, James, and Prudence are no longer involved in the family business following a legal dispute over control. Lachlan Murdoch will now lead the companies alone after an agreement was reached.
Key Facts
- Rupert Murdoch's children, Elisabeth, James, and Prudence, have cut ties with Fox Corp and News Corp.
- A legal battle occurred in Nevada about the control of a trust that governed company shares.
- Lachlan Murdoch is now set to be the sole leader of Rupert Murdoch's businesses after his passing.
- The family dispute started because Rupert Murdoch wanted to prevent changes in company direction.
- Rupert Murdoch's decision to alter the trust terms was initially ruled as not in good faith.
- The final agreement prevents Elisabeth, James, and Prudence from buying back shares in the family company.
- The family tensions are compared to themes from the TV drama "Succession."
