Drama builds around Rupert Murdoch's trust

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If you’ve been pining for media-elite drama since the “Succession” finale, you’re in luck. A real-life succession battle involving Rupert Murdoch, the conservative news titan who served as inspiration for Logan Roy, has been playing out quietly in Nevada. In fact, it was so quiet, the public knew nothing for months. The New York Times reported on it only last week after it obtained a sealed court document.

The now-public drama involves the 93-year-old Murdoch’s effort to change an irrevocable trust in order to give more power to his eldest son. The outcome could help shape the future of Murdoch’s media properties, including The Wall Street Journal and Fox News.

What is an irrevocable trust, anyway? Law professors Naomi Cahn from the University of Virginia and Reid Kress Weisbord from Rutgers University - Newark explain how this estate-planning tool works, why the Murdochs are fighting over it, and the crucial legal question at the center of the dispute.

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Tracy Walsh

Economy + Business Editor

Rupert Murdoch and his son Lachlan in Sun Valley, Idaho. Drew Angerer/Getty Images

Rupert Murdoch’s real succession drama − why the future of his media empire could hinge on a legal effort in Nevada

Naomi Cahn, University of Virginia; Reid Kress Weisbord, Rutgers University - Newark

Even the most careful trust planning is no substitute for family harmony.

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