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The Markets
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The Markets
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Media

Rupert Murdoch reportedly fails in bid to cede control to Lachlan

Rupert Murdoch has failed in his bid to alter his family trust to ensure control of his media empire passes solely to his son Lachlan, according to a sealed court decision cited by the New York Times.

Nevada commissioner Edmund Gorman ruled that Rupert and Lachlan Murdoch acted in "bad faith" in attempting to amend the irrevocable trust.

After Murdoch Snr's death, the trust splits control of the empire equally among his four oldest children: Lachlan, James, Elisabeth, and Prudence.

The proposed changes aimed to cement Lachlan's leadership and block potential challenges from his more moderate siblings.

Gorman described the plan as a "carefully crafted charade" to secure Lachlan’s power permanently.

The ruling, which is subject to appeal, was welcomed by Lachlan’s siblings, who expressed hopes for family reconciliation.

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