Failing at succession? Try secession
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
