Eat The Press

Rupert Murdoch Announces Succession: Four Eldest Kids To Control Family Trust

The Guardian |  Stephen Brooks |  Posted Monday July 24, 2006 at 12:08 PM

Rupert Murdoch has confirmed that his four eldest children from his first marriage -
Prudence, Elisabeth, Lachlan and James - will assume control over the family trust that owns 30% of News Corp after he dies. His two younger daughters by third wife Wendi Deng will not assume any control of the trust - which means that Deng will not have a voice in how News Corp is run. His assets, however, will be divided equally amongst all six children.

Interestingly, Murdoch declines to name an heir apparent himself, and told interviewer Charlie Rose that it would be up to the kids to decide: "In terms of power, yes. In terms of leadership, they'll all get treated equally financially." Yikes, that's a recipe for a smooth transition.

Related: Love And War In The House of Murdoch [New York]