Lachlan Murdoch Secures Media Empire Control in $3.3B Family Deal

Rupert Murdoch has resolved a long-running succession battle by confirming his eldest son, Lachlan Murdoch, as the heir to control the family’s vast media empire, which includes Fox News, The Wall Street Journal, and The Times. Lachlan, regarded as the most conservative of Murdoch's children, will assume leadership through a $3.3 billion deal that buys out his three oldest siblings—Prudence, Elisabeth, and James—each receiving approximately $1.1 billion for their shares. This agreement ends litigation sparked by Rupert's attempt to alter the family trust to favor Lachlan, a move initially blocked by a U.S. court. The deal also involves creating a new family trust including Lachlan and his two youngest siblings, Grace and Chloe, to maintain control of Fox Corporation and News Corp. The settlement secures the continuation of the media group’s conservative editorial stance, reflecting Lachlan’s political orientation compared to his more liberal siblings. This resolution marks the conclusion of a high-profile, publicized family dispute reminiscent of the HBO drama "Succession."