The ruling out of Reno means that Fox’s fate will remain up in the air. Rupert Murdoch's death will almost certainly instigate a battle for control of the family trust and thus Fox News. If it's three-against-one, Lachlan would lose control.

To be clear, there's no evidence of a "fire Lachlan and force Fox to the center" pitch deck on James' desk. Far from it. James has been very careful not to get ahead of himself, knowing he would need the support of both Prudence and Elisabeth to effect any change at the corporate level.

But here's the thing: Rupert's failed attempt to blow up the trust may have been just the thing to bring Prudence, Elisabeth and James together.

So what happens now? Well, nothing. In the short term, the identity of Fox News is more certain than ever: Its power and profits come from a mutually beneficial relationship with the president-elect and his supporters. But in the long term, if the family's power center shifts, then uncertainty reigns. It's a truly strange state of affairs for a TV network that doubles as a lifestyle brand, political machine, and Trump administration staffing firm...