Lachlan Murdoch Secures Control of $3.3B Family Media Empire

The Murdoch family has resolved a long-standing succession dispute by finalizing an agreement that consolidates Lachlan Murdoch's control over the family's media empire, including Fox News, The Wall Street Journal, and News Corp assets in the US, UK, and Australia. Lachlan's leadership is secured through a new family trust that will last until 2050, ensuring his control over these influential conservative-leaning outlets for decades. Rupert Murdoch's other children, James, Elisabeth, and Prudence, have agreed to exit the business entirely in exchange for approximately $1.1 billion each for their shares, ending years of bitter legal battles and internal family conflicts. The settlement follows a failed attempt by Rupert and Lachlan to unilaterally alter the family trust to favor Lachlan exclusively, which led to a court trial in Nevada. The new trust includes Lachlan and his younger sisters, Grace and Chloe, and dissolves previous litigation, securing the media empire’s continuity under Lachlan’s leadership. This resolution reflects Rupert Murdoch’s goal of preserving the conservative voice within the empire and puts an end to the power struggles reminiscent of the TV drama 'Succession.'