**Title:** Lachlan Murdoch Takes Control of Family Media Empire
**Meta Description:** Lachlan Murdoch secures control of the family media empire, concluding a lengthy succession battle involving Fox News and The Wall Street Journal.
**URL Slug:** lachlan-murdoch-media-empire-control
**Headline:** Lachlan Murdoch Secures Control of Family Media Empire After Lengthy Succession Battle
The long-standing succession dispute within the Murdoch family has reached a resolution, with Lachlan Murdoch, son of Rupert Murdoch, now holding controlling interests in the family’s extensive media holdings, which include Fox News, The Wall Street Journal, The Times of London, and The New York Post. This announcement, made on Monday, signifies the conclusion of a dramatic legal struggle that unfolded last autumn in Reno, Nevada, and served as inspiration for the acclaimed HBO series, Succession.
The conflict began in 2023 when Rupert Murdoch sought to amend the terms of the Murdoch Family Trust, established following his 1999 divorce from Anna dePeyster, who had significant stakes in Fox News and News Corp. Originally, the trust stipulated that Rupert’s four eldest children—Prudence MacLeod, Elisabeth Murdoch, Lachlan Murdoch, and James Murdoch—would share voting rights in News Corp and Fox upon his passing. However, Rupert’s proposed changes aimed to grant sole control to Lachlan, whom he deemed most capable of leading the media empire, effectively sidelining his other children.
The three siblings opposed this amendment and contested it in a Nevada court, which is known for its privacy in family trust matters.
Under the terms of the agreement announced on Monday, Prudence, Elisabeth, and James will each receive $1.1 billion in cash for their shares in the family business, which represent approximately 80% of their current market value. They have agreed to divest their personal holdings in Fox and News Corp over the next six months, after which they will relinquish their voting rights in the companies.
Additionally, a new family trust will be established for Lachlan and his step-sisters, Grace and Chloe Murdoch, daughters from Rupert’s marriage to Wendi Deng Murdoch. This trust is valued at around $3.3 billion and will hold 36% of Fox’s Class B stock and 33% of News Corp’s Class B shares.
Following the restructuring of the trust, Lachlan Murdoch will maintain sole voting control over the Murdoch family’s shares in Fox Corporation and News Corp until 2050, when the new trust is set to expire. Fox Corporation encompasses Fox News Media, Fox Entertainment, Fox Sports, contracts with local affiliate stations, and the free-streaming service Tubi Media Group, collectively generating $16 billion in revenue and a net income of $2.29 billion for the fiscal year ending June 30.
In conclusion, this resolution not only marks the end of a contentious family dispute but also solidifies Lachlan Murdoch’s position at the helm of a significant media empire, shaping the future of the Murdoch family’s legacy in the industry.
**FAQ Section:**
**Q: What does Lachlan Murdoch’s control mean for the future of the Murdoch media empire?**
A: Lachlan Murdoch’s control is expected to bring stability and a unified vision to the Murdoch media empire, allowing for strategic decisions that could impact the future direction of its various holdings.
