Murdoch Family Strikes $3.3 B Succession Deal to Cement Lachlan’s Control

Lead On Monday, Rupert Murdoch’s children agreed to a $3.3 billion settlement that secures eldest son Lachlan Murdoch’s authority over Fox Corp. and News Corp. and buys out his three older siblings.

Nut Graf The deal ends a years-long legal battle over the future governance of the Murdoch empire, ensuring its conservative editorial stance under Lachlan’s stewardship and providing Prudence, Elisabeth and James Murdoch with equal cash payouts.

Family Settlement Details

• Prudence MacLeod, Elisabeth Murdoch and James Murdoch will each receive roughly $1.1 billion in exchange for relinquishing their beneficiary rights in the current family trust.
• A new trust benefiting Lachlan, along with his younger sisters Grace and Chloe Murdoch, will hold approximately 36 percent of Fox’s Class B shares and 33 percent of News Corp’s Class B shares.
• The departing siblings must divest their personal stakes over the next six months and adhere to a long-term standstill agreement barring them from repurchasing shares in either company.

Implications for the Media Empire

Lachlan Murdoch, already serving as chairman and CEO of Fox Corp., now gains uncontested voting control to guide strategic decisions at both Fox and News Corp. The settlement preserves the ideological continuity of flagship outlets such as Fox News and The Wall Street Journal, allaying investor concerns about sudden editorial shifts.

Background

Rupert Murdoch, 94, first sought to alter the terms of the Murdoch Family Trust in 2023 to prevent his more moderate children from challenging Lachlan’s leadership. A Nevada court blocked his initial bid in December, prompting renewed negotiations that culminated in this binding agreement.

This resolution brings to a close a high-profile real-life “Succession” drama and provides long-term stability for one of the world’s most influential media dynasties.