Failing at succession? Try secession
Add BT as a preferred source
IF YOU’RE a fan of HBO’s Succession, you might’ve spent a few delicious moments last month (July) imagining Lachlan Murdoch yelling, “I am the eldest boy!”.
The TV show about the feuding Roy clan might’ve ended its run, but the Murdochs’ power struggle is just getting started. Media mogul Rupert Murdoch, 93, – synonymous with Fox News and News Corp – is trying to amend the family trust to give his son, Lachlan, control of his business after his death. Three of Lachlan’s siblings are contesting this effort in court. Thanksgiving will be tense for the Murdochs.
Rupert Murdoch wouldn’t be the first geriatric media titan asserting control well past his prime. Viacom’s Sumner Redstone battled his daughter Shari over corporate governance and succession issues well past his 80s. So acrimonious was their disagreement that in 2007, Sumner blasted Shari in an open letter, accusing her of having made “little or no contribution” to his media empire.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
