The Murdoch family’s long-running battle over who would inherit control of Rupert Murdoch’s media empire has finally come to an end. Rupert’s eldest son, Lachlan Murdoch, will take the reins of the empire that includes Fox News, The Wall Street Journal, and The New York Post.
The deal, announced Monday, locks in Lachlan as the controlling figure after Rupert’s death. At 94, Rupert remains chairman emeritus of Fox Corporation and News Corp but stepped back from active leadership in September 2023.
Under the agreement, Lachlan will oversee a new family trust. His three older siblings Prudence MacLeod, Elisabeth Murdoch, and James Murdoch will no longer hold shares or influence in Fox or News Corp. Instead, they’ll cash out.
According to The New York Times, each sibling will receive about $1.1 billion from the sale of more than 14 million News Corp shares and nearly 17 million Fox shares. The payout ensures they maintain their inheritance but leaves Lachlan as the sole Murdoch child shaping the empire’s political direction.
The truce ends years of legal battles and bitter infighting, much of which inspired the hit TV series Succession. The dispute centered on Rupert’s wish to secure a conservative future for his empire, while his more moderate children often clashed with Fox News’ editorial stance.
James Murdoch in particular has been outspoken about his disagreements, especially over Fox’s coverage of climate change and the 2020 U.S. election. “Fox News gave Donald Trump an enormous platform,” said Matthew Ricketson, a communications professor at Deakin University, adding that James “disagreed strongly” with that direction.
Veteran journalist Andrew Neil called the outcome “an expensive success” for Rupert, noting that Lachlan is very much “a chip off the old block.” By buying out the others, Neil said, Rupert ensured Lachlan will never be outvoted by his more liberal siblings.
The deal follows a Reno court ruling last December that had rejected Rupert and Lachlan’s earlier attempt to change the trust, saying they acted in “bad faith.” Monday’s agreement was described as a “mutual resolution” that finally closes the family’s high-stakes fight.
Still, experts say the settlement comes at a cost beyond money. “He seems to have torn apart his family in the process,” said Professor Ricketson. “Rupert always insisted this was a family business, built for his children to take over. But it’s hard to see them being happy with how it has ended.”
