The succession struggle concerning the multi-billion-dollar conservative media empire—which includes Fox News, the Wall Street Journal, and the New York Post—has concluded.
Under an agreement announced by the family on Monday, the media mogul’s eldest son, Lachlan Murdoch, will cement his command over the media companies. This deal is anticipated to ensure the news outlets’ conservative stance for years to come, as Lachlan is regarded as the most politically conservative among the older Murdoch siblings.
The announcement brings an end to a decades-long contest over the future leadership of these newspapers and television channels, a saga that inspired the popular HBO television series Succession.
Here’s what you should know.
What happens next? What will Lachlan Murdoch control?
The agreement will create a new family trust, including Lachlan Murdoch and his two younger sisters, Grace and Chloe. This trust, which is scheduled to expire in 2050, will hold a controlling interest in the two largest Murdoch media companies, Fox Corporation and News Corp., with Lachlan possessing sole voting authority.
Fox Corporation encompasses Fox News Media, Fox Entertainment, Fox Sports, contracts with a number of affiliate stations, and Tubi, a free streaming service.
Fox News Channel has been a dominant force in cable news for decades and was the from the onset of summer through Labor Day, according to Nielsen. The network surpassed popular shows including CBS’ Big Brother and NBC’s American Ninja Warrior during that period, averaging more than 2.4 million viewers during primetime. Fox Sports has also achieved recent successes, airing this year’s Super Bowl to a record-breaking audience and securing the English-language broadcasting rights for the 2026 FIFA World Cup in the U.S.
News Corp, conversely, owns the Wall Street Journal and other publications from Dow Jones, the book publisher HarperCollins, the New York Post, , the British daily newspaper The Times, the Sunday Times, The Sun, and The Australian. Other Australian newspapers and Sky News Australia are also under the company’s ownership.
The value of the Murdoch media empire is estimated to be $3.3 billion, .
What about Murdoch’s other children?
Rupert Murdoch’s three additional children, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, will all divest their shares in Fox and News Corp in the next few months, thereby relinquishing any control over the news organizations or their political leanings.
They are estimated to receive more than $1 billion each.
The existing family trust, in which those shares were held, will be dissolved.
How does Rupert Murdoch feel about the outcome?
The 94-year-old media mogul is reportedly content that his eldest son will inherit control of the media empire, amid concerns over his other children’s supposedly more politically moderate views. Rupert Murdoch previously sought to modify the terms of the family trust to disenfranchise Lachlan’s older siblings and grant him control. The effort encountered , but led to negotiations.
Andrew Neil, former editor of the Sunday *Times* and the founding chairman of Sky TV, indicated that Murdoch had feared Lachlan would be outvoted by his siblings after his death.
“That will not happen now because they’ve been bought out… Lachlan Murdoch is now the dominant figure in a new trust that will control the organization, and he will run that without fear of interference from his siblings,” Neil stated.
