Family Deadlock Looms for News Corp.

No tie-breaker deal for 4 Murdoch heirs with voting power: Wolff
By Caroline Miller,  Newser Staff
Posted Nov 28, 2008 12:10 PM CST
Family Deadlock Looms for News Corp.
News Corp. Chairman and CEO Rupert Murdoch delivers the 2008 Boyer Lecture series "A Golden Age of Freedom" in Sydney, Australia, Sunday, Nov. 2, 2008.   (AP Photo/Rob Griffith)

News Corp. could be headed for a deadlock when 77-year-old Rupert Murdoch's heirs take over, the Financial Times writes, based on a reading of Newser founder Michael Wolff's upcoming book, The Man Who Owns the News. An agreement giving equal shares in the Murdoch family’s stake to all 6 of his children, but voting control to the eldest 4, has no provision for breaking ties, Wolff reports. 

“This is not a family that believes it needs legal deadlock provisions," a family friend tells the FT. "They have always been very happy to rely on old-fashioned talking, arguing, shouting, threatening and ultimately compromise to reach consensus.” (More Rupert Murdoch stories.)

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