The real life succession: Lachlan Murdoch wins control of family empire and takes the reins of Fox Corporation
Murdoch family settles succession battle over media empire
- Lachlan Murdoch has secured control of the family's media empire, including Fox Corporation and News Corp, for the next 25 years.
- The deal, reportedly worth $3.3 billion, resolves long-standing litigation within the Murdoch family regarding succession.
- Rupert Murdoch, 94, had previously attempted to alter the family trust to grant Lachlan control, an effort a December 2024 court ruling deemed a 'carefully crafted charade' and 'bad faith'.
- As part of the agreement, Rupert's other three eldest children, Prudence, Elisabeth, and James, will sell their shares in Fox Corporation and News Corp, each receiving $1.1 billion.
- A new trust, set to expire in 2050, will be established to benefit Lachlan and Rupert’s two youngest daughters, Grace and Chloe, while Rupert will continue as Chairman Emeritus.