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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

(Newser) – 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.”

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.
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)
Rupert Murdoch speaks at a news conference in New York in this file photo of Oct. 20, 2006.
Rupert Murdoch speaks at a news conference in New York in this file photo of Oct. 20, 2006.   (AP Photo)
News Corp chairman and CEO Rupert Murdoch and wife Wendi Deng attend The Museum of Modern Art Film Benefit honoring Baz Luhrmann on Monday, Nov. 10, 2008 in New York.
News Corp chairman and CEO Rupert Murdoch and wife Wendi Deng attend The Museum of Modern Art Film Benefit honoring Baz Luhrmann on Monday, Nov. 10, 2008 in New York.   (AP Photo/Evan Agostini)
News Corp Chairman Rupert Murdoch arrives at Kirribilli House in Sydney, Thursday, Oct. 30, 2008.
News Corp Chairman Rupert Murdoch arrives at Kirribilli House in Sydney, Thursday, Oct. 30, 2008.   (AP Photo/Rick Rycroft)
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