Dec 9 (Reuters) - Rupert Murdoch has lost a bid to change his family trust to consolidate control of his media empire in the hands of his son Lachlan, the New York Times reported on Monday, citing a sealed court document.
Nevada commissioner Edmund Gorman concluded in a decision filed on Saturday that Rupert Murdoch and his eldest son, Lachlan, who is the head of Fox News parent Fox Corp (FOXA.O), opens new tab and News Corp (NWSA.O), opens new tab, had acted in "bad faith" in their effort to amend the irrevocable trust, the Times reported.
The court docket indicates Gorman issued a recommendation or order Saturday, but the document is not publicly available.
The trust currently would divide control of the company equally among Rupert Murdoch’s four oldest children - Lachlan, James, Elisabeth and Prudence - after his death.
Rupert Murdoch proposed amending the family trust to solidify Lachlan's leadership of the family's media empire after the his death, and block any interference by three of Lachlan’s siblings, who are politically moderate, the Times reported.