September 10, 2024 • 6 mins
Em Gillespie joins Jonesy & Amanda with the latest in entertainment!
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Episode Transcript
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Speaker 1 (00:00):
Jersey and Amanda jam Nation.
Speaker 2 (00:03):
She is the editor of The Daily Oz. M Gillespie
is here with That's entertainment.
Speaker 3 (00:08):
Hello, well, it's real life succession. This week, the Murdoch
family are in court fighting against each other in a
honestly a case that could be another season of the
HBO show that We Love and Miss Succession. Rupert Murdoch
and his son Lachlan are going against three of Rupert
Murdoch's other kids, James, Elizabeth and Prudence because Rupert wants
(00:32):
to break up this family trust to give all the
power of Fox News and News Corp after he dies
to his son Lachlan.
Speaker 1 (00:40):
But people for many years have been wondering what the
succession plan would be, and for while it looked like James,
someone said the Elizabeth that Elizabeth is actually the media
genius in the family, but she set aside some time ago.
Why is he changing it?
Speaker 3 (00:52):
So? Lachlan Murdock has been the boss of Fox News
for five years now. He became CEO in twenty nineteen,
and then last year Rupert announced he was stepping back
from News Corps as well, and Lachlan was appointed chair
of that organization. And it's obvious to everyone from the
outside looking in that Lachlan really is daddy's protege. Lachlan
(01:14):
is the Kendall Roy of this situation, and he's really
been groomed over many, many years to kind of take
over the reins. He's very politically aligned with Rupert. He's
super right wing conservative. His agenda is very much playing
out by the minute on Fox News over in the US.
Very pro Trump, very make America great again.
Speaker 1 (01:37):
Fox News is huge.
Speaker 2 (01:39):
Huge if you're dealings with Lachlan. He seems like a
pretty reasonable guy who rides motorbikes.
Speaker 1 (01:45):
He's got to take He's a great guy, but this
is his allegiances.
Speaker 3 (01:49):
I think that's kind of the danger or the prominence
of his power, is that he's a player that kind
of can seem like a reasonable, nice, normal guy, but
at the end of the day, he's he's willing to
make tough cause like his dad. But what's interesting about
this legal battle is the four kids that I mentioned
a part of what's called an irrevocable trust. Now, this
(02:09):
was set up in nineteen ninety nine after Rupert Murdoch
divorced Anna, who is the mum of Lachlan, James and Elizabeth.
It's like a will, but it's a really intensely legally
binding document. It's essentially not meant to be able to
be changed. Once an irrevocable trust is finalized, its terms
cannot be changed.
Speaker 1 (02:29):
Wow.
Speaker 3 (02:29):
Now that trust dictates that those four children after Rupert
dies would be given equal voting rights and equal control
of his corporations.
Speaker 1 (02:39):
So Newsport and is this because James in recent years
James in recent years has turned more leftish leaning, Yes, exactly.
Brought all this on.
Speaker 3 (02:47):
James has come more to the center. I think it's
just that, you know, Lachlan has become the most involved
in the family business of any of Rupert Murdoch's kids,
So it makes sense from you know, that perspective.
Speaker 1 (02:59):
But to take their voting away, obviously they're not happy.
That's why it's in court exactly so.
Speaker 2 (03:04):
But also with the voting, with the media, people lean
into what's negative, so it's all about clickbait.
Speaker 1 (03:10):
So I think James stepped away because he was concerned
about how Fox was covering climate change, and that's why
he thought I kin'dt align.
Speaker 2 (03:17):
People don't want to hear about climate change, That's what
I want to hear that's the thing.
Speaker 1 (03:21):
That's why we have Fox and that's why we have
other networks.
Speaker 2 (03:23):
Do you know what I mean? If we talked about
climate change all the time, all the time, we would
lose listeners because people don't want to hear about it.
Speaker 3 (03:29):
Well, particularly when it's an election year in the US.
I mean it's hard enough to get Australians to hear
about it, let alone Americans. But when you factor in
the political climate there, I think what seems like a
sort of family fight if you really sort of look
at the nitty gritty of it, If those voting rights
are lost to those other children, and if Lachlan has
full control, if you know, Rupert two point zero then
(03:51):
takes over after he dies, then you're essentially looking at
a future where Fox News has no hope of becoming
the once more moderate news.
Speaker 2 (04:00):
Can we can I bookend this? If you were inherited,
if you were a Murdoch child, would you want to
be the sit back and cruise kid or the one
that wants to run the business?
Speaker 3 (04:09):
I don't.
Speaker 1 (04:11):
They're not like the kids of property developers. They've been
groomed to run back.
Speaker 2 (04:14):
I think about James Packer when Kerry died and James
inherited all that, and then he said, right, I'm going
to do this, going to make this giant casino empire.
If he just got all the billions of dollars off
his dad put it in the bank, he'd probably be
in the same position.
Speaker 3 (04:27):
Well. I think he's a really good example for a
local example of what it would be like to have
an extremely powerful and influential father who is not only rich,
but incredibly ambitious and incredibly passionate about his business projects.
And I think same thing with the Murdoch kids. It's
nice to think that if you were the kid of
a billionaire, Yeah, you'd fly around on your private get
(04:48):
and live life large. But the pressure I think that
is put on them and the psychological impacts of that,
I don't think that they can sort of just sit still.
There's that sort of constant fire burning in them to
want to I want to please daddy.
Speaker 1 (05:01):
And also, as we saw in Succession, it was the
idea that they were running a media empire got lost
in the ambition fight. It's a hugely responsible job to
run a network, and that's what we're seeing, As you
said with Lachman at the Helm that's Fox's fate ready
to go.
Speaker 2 (05:16):
I see on a sun lounge on a massive ozone
hole making yacht.
Speaker 3 (05:22):
That's well, this is going to play out over the
next two weeks. My favorite thing about this is the
cases being heard in Reno, Nevada, which is a famously
dead end because family trust law in Nevada, in the
state of Nevada, is quite loose or favorable towards what
Rupert is trying to achieve. There's also no tax on
(05:44):
any kind of estates, so there it's favorable conditions and
really strict privacy laws that would allow him to make
changes that he wouldn't necessarily have to disclose to the
rest of the trust. But I just love imagining this
family camped out in Reno, Nevada for two weeks. Can
you think.
Speaker 2 (06:00):
Because it's pretty down, it's pretty down, run deep. It is.
Speaker 1 (06:02):
The private jets and a tent.
Speaker 2 (06:05):
Plenty of places park. Thank you, am, thank you.
Jersey and Amanda jam Nation.
Speaker 2 (00:03):
She is the editor of The Daily Oz. M Gillespie
is here with That's entertainment.
Speaker 3 (00:08):
Hello, well, it's real life succession. This week, the Murdoch
family are in court fighting against each other in a
honestly a case that could be another season of the
HBO show that We Love and Miss Succession. Rupert Murdoch
and his son Lachlan are going against three of Rupert
Murdoch's other kids, James, Elizabeth and Prudence because Rupert wants
(00:32):
to break up this family trust to give all the
power of Fox News and News Corp after he dies
to his son Lachlan.
Speaker 1 (00:40):
But people for many years have been wondering what the
succession plan would be, and for while it looked like James,
someone said the Elizabeth that Elizabeth is actually the media
genius in the family, but she set aside some time ago.
Why is he changing it?
Speaker 3 (00:52):
So? Lachlan Murdock has been the boss of Fox News
for five years now. He became CEO in twenty nineteen,
and then last year Rupert announced he was stepping back
from News Corps as well, and Lachlan was appointed chair
of that organization. And it's obvious to everyone from the
outside looking in that Lachlan really is daddy's protege. Lachlan
(01:14):
is the Kendall Roy of this situation, and he's really
been groomed over many, many years to kind of take
over the reins. He's very politically aligned with Rupert. He's
super right wing conservative. His agenda is very much playing
out by the minute on Fox News over in the US.
Very pro Trump, very make America great again.
Speaker 1 (01:37):
Fox News is huge.
Speaker 2 (01:39):
Huge if you're dealings with Lachlan. He seems like a
pretty reasonable guy who rides motorbikes.
Speaker 1 (01:45):
He's got to take He's a great guy, but this
is his allegiances.
Speaker 3 (01:49):
I think that's kind of the danger or the prominence
of his power, is that he's a player that kind
of can seem like a reasonable, nice, normal guy, but
at the end of the day, he's he's willing to
make tough cause like his dad. But what's interesting about
this legal battle is the four kids that I mentioned
a part of what's called an irrevocable trust. Now, this
(02:09):
was set up in nineteen ninety nine after Rupert Murdoch
divorced Anna, who is the mum of Lachlan, James and Elizabeth.
It's like a will, but it's a really intensely legally
binding document. It's essentially not meant to be able to
be changed. Once an irrevocable trust is finalized, its terms
cannot be changed.
Speaker 1 (02:29):
Wow.
Speaker 3 (02:29):
Now that trust dictates that those four children after Rupert
dies would be given equal voting rights and equal control
of his corporations.
Speaker 1 (02:39):
So Newsport and is this because James in recent years
James in recent years has turned more leftish leaning, Yes, exactly.
Brought all this on.
Speaker 3 (02:47):
James has come more to the center. I think it's
just that, you know, Lachlan has become the most involved
in the family business of any of Rupert Murdoch's kids,
So it makes sense from you know, that perspective.
Speaker 1 (02:59):
But to take their voting away, obviously they're not happy.
That's why it's in court exactly so.
Speaker 2 (03:04):
But also with the voting, with the media, people lean
into what's negative, so it's all about clickbait.
Speaker 1 (03:10):
So I think James stepped away because he was concerned
about how Fox was covering climate change, and that's why
he thought I kin'dt align.
Speaker 2 (03:17):
People don't want to hear about climate change, That's what
I want to hear that's the thing.
Speaker 1 (03:21):
That's why we have Fox and that's why we have
other networks.
Speaker 2 (03:23):
Do you know what I mean? If we talked about
climate change all the time, all the time, we would
lose listeners because people don't want to hear about it.
Speaker 3 (03:29):
Well, particularly when it's an election year in the US.
I mean it's hard enough to get Australians to hear
about it, let alone Americans. But when you factor in
the political climate there, I think what seems like a
sort of family fight if you really sort of look
at the nitty gritty of it, If those voting rights
are lost to those other children, and if Lachlan has
full control, if you know, Rupert two point zero then
(03:51):
takes over after he dies, then you're essentially looking at
a future where Fox News has no hope of becoming
the once more moderate news.
Speaker 2 (04:00):
Can we can I bookend this? If you were inherited,
if you were a Murdoch child, would you want to
be the sit back and cruise kid or the one
that wants to run the business?
Speaker 3 (04:09):
I don't.
Speaker 1 (04:11):
They're not like the kids of property developers. They've been
groomed to run back.
Speaker 2 (04:14):
I think about James Packer when Kerry died and James
inherited all that, and then he said, right, I'm going
to do this, going to make this giant casino empire.
If he just got all the billions of dollars off
his dad put it in the bank, he'd probably be
in the same position.
Speaker 3 (04:27):
Well. I think he's a really good example for a
local example of what it would be like to have
an extremely powerful and influential father who is not only rich,
but incredibly ambitious and incredibly passionate about his business projects.
And I think same thing with the Murdoch kids. It's
nice to think that if you were the kid of
a billionaire, Yeah, you'd fly around on your private get
(04:48):
and live life large. But the pressure I think that
is put on them and the psychological impacts of that,
I don't think that they can sort of just sit still.
There's that sort of constant fire burning in them to
want to I want to please daddy.
Speaker 1 (05:01):
And also, as we saw in Succession, it was the
idea that they were running a media empire got lost
in the ambition fight. It's a hugely responsible job to
run a network, and that's what we're seeing, As you
said with Lachman at the Helm that's Fox's fate ready
to go.
Speaker 2 (05:16):
I see on a sun lounge on a massive ozone
hole making yacht.
Speaker 3 (05:22):
That's well, this is going to play out over the
next two weeks. My favorite thing about this is the
cases being heard in Reno, Nevada, which is a famously
dead end because family trust law in Nevada, in the
state of Nevada, is quite loose or favorable towards what
Rupert is trying to achieve. There's also no tax on
(05:44):
any kind of estates, so there it's favorable conditions and
really strict privacy laws that would allow him to make
changes that he wouldn't necessarily have to disclose to the
rest of the trust. But I just love imagining this
family camped out in Reno, Nevada for two weeks. Can
you think.
Speaker 2 (06:00):
Because it's pretty down, it's pretty down, run deep. It is.
Speaker 1 (06:02):
The private jets and a tent.
Speaker 2 (06:05):
Plenty of places park. Thank you, am, thank you.
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