Esther Imonmion
Rupert Murdoch’s family has settled its years-long succession battle, cementing Lachlan Murdoch as heir to the 94-year-old mogul’s global media empire.
News Corp announced on Monday that Lachlan, 54, will assume sole voting control over a family trust that holds a controlling stake in Fox Corporation and News Corp, parent companies of outlets including Fox News, The Wall Street Journal, The New York Post and The Times. The trust will remain in place until 2050.
Lachlan’s siblings James, Elizabeth and Prudence Murdoch will give up their stakes in the existing family trust in exchange for an equal share of equity sales, with U.S. media estimating their payout at about $3.3bn. Under a “long-term standstill agreement,” the three are barred from acquiring shares or seeking influence over Fox and News Corp.
Grace and Chloe Murdoch, the youngest daughters, will remain beneficiaries of the new trust, but without voting power.
The deal ends a bitter legal fight that erupted in 2023 when Rupert Murdoch sought to amend the trust to hand Lachlan full control. A Nevada probate court blocked the move in December, calling it a “carefully crafted charade.” Monday’s settlement, however, secures Murdoch’s long-stated wish to pass the empire to Lachlan, widely seen as closest to his father’s conservative worldview.
Analysts said the arrangement guarantees stability but deepens concerns about media diversity.
“From what we know, Lachlan Murdoch’s views and values are very similar to Rupert Murdoch’s,” said Lynne Vincent of Syracuse University. “This ensures business as usual at Fox and News Corp.”
Andrew Dodd of the University of Melbourne called the outcome “bad news for media pluralism,” warning that Murdoch outlets will remain “right wing and reactionary.”
Murdoch, who stepped down from day-to-day management in 2023, has long been regarded as ruthless in protecting his legacy. As Vincent put it: “Rupert Murdoch is very effective at getting what he wants.”
The settlement, likened to the plot of HBO’s Succession, cements Lachlan’s dominance in a dynasty that has shaped global politics and media for half a century.