'Scathing' Nevada commissioner ruling blocks Murdoch’s 'bad faith' bid to change family trust

Billionaire Rupert Murdoch's effort to modify the family trust in order to ensure his son, Lachlan Murdoch, takes full control of Fox News and News Corp. has flopped at the hands of a Nevada Commissioner, The New York Times reports.

In July, the Times "published a bombshell report revealing that 'a sealed court document obtained' by the newspaper" revealed "that in efforts to maintain the conservative Fox News empire as it is today, and even after his death," the 93-year-old was in a private battle with three of his six children — James, Elisabeth and Prudence.

Commisser Edmund J. Gorman Jr. shut down Rupert and Lachlan's plan in a "scathing" Saturday, December 7 ruling, according to the Times, emphasizing that the pair acted in "bad faith" in their scheme "to amend the irrevocable trust."

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Lachlan currently serves as chairman of News Corp, as well as executive chairman and CEO of Fox.

Quartz reports the commissioner slammed the effort "to change the trust a 'carefully crafted charade' meant to 'permanently cement Lachlan Murdoch’s executive roles' that was being done 'regardless of the impacts such control would have over the companies or the beneficiaries' of his trust."

Murdoch's attorney, Adam Streisand, confirmed that the father-son duo plan to appeal Gorman's decision.

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The New York Times' full report is available at this link (subscription required). Quartz's report is here.