Rupert Murdoch loses legal battle to wrestle control of his media empire – reports | Money News

An attempt by Rupert Murdoch to change who controls the future of his media empire has been blocked, according to reports in The New York Times.

The newspaper claims a sealed court document accuses the 93-year-old of acting in “bad faith” by attempting to amend his family trust to benefit his eldest son, Lachlan.

Currently, the trust passes control of the company equally among Mr Murdoch’s four oldest children – Lachlan, James, Elisabeth and Prudence – after his death.

But Nevada commissioner Edmund Gorman has rejected a bid to change the terms of the trust.

Lachlan is head of Fox News parent Fox Corp and News Corp, which owns UK titles including The Sun and The Times.

Mr Murdoch’s proposed amendment would have blocked any interference by three of Lachlan’s siblings, who are more politically moderate.

Mr Gorman said the plan to change the trust was a “carefully crafted charade”, according to The New York Times.

The newspaper also described that, in the commissioner’s opinion, it was an attempt to “permanently cement Lachlan Murdoch’s executive roles” inside the empire “regardless of the impacts such control would have over the companies or the beneficiaries” of the family trust.

Potentially, three of the heirs could out-vote a fourth, setting up a battle over the future of the companies.

A spokesman for Mr Murdoch could not immediately be reached for comment.

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But his lawyer, Adam Streisand, said they were disappointed with the ruling and intended to appeal, The New York Times reported.

Sky News, which Mr Murdoch launched in the UK in 1989, is no longer part of his empire.

At the end of 2018, Fox’s film entertainment assets, such as The Simpsons and the Avatar film franchise, were sold to Disney – while the company’s 39% stake in Sky was sold to Comcast.