The long-standing war over Rupert Murdoch’s media empire is finally over, with the family announcing that eldest son Lachlan Murdoch will assume sole control of the vast business.
The announcement on Monday ends a bitter succession battle likened to the HBO drama Succession.
As part of the deal, Rupert Murdoch’s three eldest kids – Prudence MacLeod, Elisabeth Murdoch, and James Murdoch – will each get an estimated $1.1 billion for their stakes in the empire. Lachlan, already News Corp’s chairman since 2023, will now gain uncontested control over Fox News, The Wall Street Journal, The Times of London, and other strategic holdings.
Rupert’s younger daughters from his third wife, Wendy Deng – Chloe and Grace – will be included in a new family trust that is responsible for controlling stakes in Fox Corporation and News Corp. The three older siblings, on the other hand, will get the benefits of a different trust dealing with the proceeds of the buyout.
The settlement follows years of tension within the Murdoch family, both political and personal. James Murdoch has been particularly outspoken, criticizing Fox News’ coverage of climate change and its support of Donald Trump. Earlier this year, he described his father as a “misogynist” and called Fox News a “menace” to democracy. His strained relationship with Rupert and Lachlan reflected broader divides about the future of the company and its ideological direction.
Court papers showed Rupert Murdoch, aged 94 now, insisted in private that only Lachlan was the right heir. In a letter to his former wife Anna, he declared: “Lachlan is the best to run the business – greatly respected inside and outside!” His position fed into claims by siblings that he and Lachlan sought to corrupt the provisions of a family trust in what was later termed by a Nevada commissioner as a “carefully crafted charade” to gain control for Lachlan.
In defiance of that decision, the family eventually settled out of court behind closed doors after the case proceeded into appeals. The settlement guarantees the perpetuation of Rupert Murdoch’s conservative tradition, as Lachlan is generally considered the most conservative of the Murdoch heirs.
Lachlan Murdoch is currently sitting as the de facto head of one of the largest media giants in the world, encompassing Fox News, Fox Sports, HarperCollins, The Wall Street Journal, The New York Post, and streaming platform Tubi.
News Corp’s board, in a statement, hailed Lachlan as a confident leader whose vision was “important to guiding the Company’s strategy and success.”
The deal officially brings to an end one of the most closely followed family succession wars in recent media history.
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