The dispute for the succession of the Murdoch family media empire reached a billionaire outcome. Lachlan Murdoch, son of the tycoon Rupert Murdoch, has signed an agreement to take control of the vast family media network, which includes vehicles such as Fox News, The Wall Street Journal and The New York Post. The agreement, valued at about $ 3.3 billion, ensures that the group maintains its conservative editorial line after Rupert’s death.
The agreement was signed after months of tensions and judicial battles between Lachlan and his older brothers – Prue, Liz and James – who sought greater participation and control over family heritage. Initially, an attempt to change the terms of the family background to favor Lachlan was barred by the court, but later negotiations led to a consensus between the parties.
As part of the agreement, the three older brothers will receive about $ 1.1 billion each to sell their shares, which are currently on a family fund that will be dissolved. A new background will be created, including Lachlan and his two younger sisters, Grace and Chloe, who will detain majority participation in the main companies in the family, Fox Corporation and News Corp.
Family dispute reflected internal political divisions, as older brothers have less conservative positions than Lachlan, who has led the expansion of family’s political influence, especially through Fox News. The judicial battle exposed old resentments and was marked by accusations of bad faith and manipulation.
With the agreement, Lachlan Murdoch consolidates his leadership and guarantees the future of the Empire under his direction at least 2050, when the new family background will expire. The resolution ends one of the most complex and media disputes in the business world, defining the direction of one of the largest media conglomerates on the planet.
