RENO, Nev. (KOLO) - With the Murdoch trial officially wrapped up, the future of the media empire is now in the judges hands. That judge, will now have to decide if the best interest of the beneficiaries of the trust is to change control from a majority, to Rupert’s oldest son, Lachlan. What stands in the way is an irrevocable trust set up during his second divorce, which will give Mr. Murdoch’s four eldest children equal shares in the company when he dies. Mr Murdoch allegedly wants to give greater control of the empire to Lachlan, who is said to be more politically aligned with him. Rupert is now reportedly attempting to change the terms of the nearly $20 billion trust to ensure Lachlan’s control, fearing that his other elder children, would steer Fox News away from its conservative position, which could have an impact on its profitability. While politics may be a factor, Thomas VanNess, an attorney familiar with irrevocable trusts, says it’s going to take a lot more than that for the judge to side with the media giant.
