News
Murdoch family settles succession dispute; Lachlan in charge
Lachlan Murdoch secures control of media empire in deal ending family succession battle
Lachlan Murdoch secures control of media empire in deal ending family succession battle.
– Lachlan Murdoch becomes head of the family media assets after a succession battle.
– His siblings receive $1.1 billion each in the buyout agreement.
The succession battle at Rupert Murdoch’s media empire has concluded. According to Bloomberg, Lachlan Murdoch, his eldest son, will take control of the family’s media assets, which include Fox News, The Wall Street Journal, and The Times in the UK.
His three older siblings will receive approximately $1.1 billion each for their shares. This resolution follows a legal dispute among Murdoch’s eldest children, reminiscent of the HBO series “Succession.” Lachlan’s leadership is significant, as he is perceived as the most conservative sibling. He has been the chairman of News Corp since 2023, overseeing numerous publications.
The siblings initially challenged their father’s attempt to shift voting power, a project he called “Project Family Harmony.” Murdoch believed Lachlan was best suited to lead the empire.
Trust Agreement
The family agreed on a buyout after extensive negotiations. A Nevada commissioner previously ruled that Rupert and Lachlan acted in bad faith regarding trust terms. News Corp expressed confidence in Lachlan’s leadership as pivotal for the company’s future success.
