UNDERNEWS: Money

September 16, 2024

Money

1440 - The trial over the future of the Murdoch empire begins today in Reno, Nevada. Details of the conflict—which draws parallels to the hit HBO series "Succession"—will remain confidential after a judge ruled last week to keep case filings sealed. At the heart of the court battle is 93-year-old Rupert Murdoch's succession plan for News Corp. and Fox Corp., media outlets collectively valued at over $32B. Murdoch owns a roughly 40% stake in each company, with each of his four children set to inherit an equal share. Last year, however, Murdoch petitioned to amend the family trust to allocate all voting rights to his eldest son and current Fox Corp. CEO, 53-year-old Lachlan Murdoch.

The Murdochs have donated millions of dollars to conservative causes, while Lachlan's siblings—including brother James—have donated to Democratic groups. Editorial differences surrounding the direction of Murdoch's conservative-leaning news empire (see list of outlets) are believed to have driven the conflict.

Robert Reich

A heat table that illustrates inflation changes in selected goods from August 2019 to August 2024. Notable increases include gasoline at 44.2% and used cars at 38.0%. Conversely, used cars and gasoline show declines of 10.4% and 10.3%, respectively, from August 2023 to August 2024.

Data: Bureau of Labor Statistics. Table: Axios Visuals

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ABOUT THE EDITOR

The Review is edited by Sam Smith, who covered Washington under nine presidents, has edited the Progressive Review and its predecessors since 1964, wrote four books, been published in five anthologies, helped to start five organizations (including the DC Humanities Council and the DC Statehood Party), was a plaintiff in three successful class action suits, served as a Coast Guard officer, and played in jazz bands for four decades.

A truly independent journalist with his feet firmly grounded in the reality of neighborhoods and everyday people. -- Patrick Mazza, Progressive Populist

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Sam's a cynical cat -- Marion Barry

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One of a small group of whites with whom many blacks would trust their political lives - Chuck Stone, Washingtonian.

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