London/New York, September 9(HS): After years of internal conflict, the Murdoch family has reached a landmark agreement settling the succession dispute over Rupert Murdoch’s vast conservative media empire. The deal announced Monday secures Lachlan Murdoch’s control over Fox News, The Wall Street Journal, The New York Post, and other key holdings both during Rupert’s lifetime and after his eventual passing.
Lachlan, Rupert Murdoch’s eldest son and chair of News Corp, will oversee a newly created trust consolidating his leadership of the media conglomerate. Meanwhile, his siblings Prudence MacLeod, Elizabeth Murdoch, and James Murdoch have agreed to relinquish all claims to the family trusts holding shares in Fox and News Corp. They will receive a combined $3.3 billion in cash for their stakes, approximately $1.1 billion each.
This resolution follows years of tensions fueled by ideological differences within the family. Lachlan is widely regarded as the most politically conservative sibling, aligned with Rupert’s editorial direction, while his older siblings have increasingly distanced themselves citing concerns about Fox News’ right-leaning stance and editorial decisions.
The public drama unfolded largely behind closed doors in Nevada courts, where Rupert sought to amend the family trust to favor Lachlan exclusively. This move was blocked last year amid claims of bad faith, paving the way for Monday’s settlement agreement.
Under the deal, the family trust dissolves, and a new structure places voting control firmly with Lachlan and his two younger half-sisters, Grace and Chloe Murdoch, Rupert’s daughters with his third wife Wendi Deng. The siblings’ share sales will be completed over the coming months, with proceeds augmenting their inheritances but removing their influence over the conglomerate’s conservative editorial stance.
The settlement closes a saga that has drawn comparisons to the hit TV show Succession, but with real-world billions and significant political implications at stake. Rupert Murdoch, now 94, is expected to continue in a ceremonial role as chairman emeritus while Lachlan steers the family’s influential media legacy forward.
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Hindusthan Samachar / Jun Sarkar
