After years of speculation, negotiation, and quiet legal battles, the Murdoch media dynasty has finally reached a resolution.
Lachlan Murdoch, Rupert’s eldest son, will take the reins of the family empire, ending the real-life drama reminiscent of the hit TV series Succession.
The settlement also ensures that his siblings step away from day-to-day control while receiving substantial payouts for their shares.
Lachlan Secures Control of a $3.3 Billion Media Empire
In a deal valued at $3.3 billion (£2.4 billion), Lachlan, 54, will assume full control of the Murdoch media holdings.
This includes UK powerhouses like The Sun, The Times, and The Sunday Times, as well as Talk TV.
In the US, he will oversee influential outlets such as Fox News, The New York Post, and The Wall Street Journal.
His three older siblings—Prudence, Elisabeth, and James—will each receive a combined $1.1 billion (£800 million) for their stakes in the empire, effectively cashing out of the business.
Project Harmony Sparks Family Rift
The agreement comes months after Lachlan and Rupert attempted to remove the three siblings from the family’s irrevocable trust—a move nicknamed “Project Harmony” by Rupert.
While the plan ultimately failed, it triggered a series of negotiations that have now resulted in Monday’s breakthrough.
Under the new arrangement, a revised family trust will include Lachlan and Rupert’s younger daughters, Grace, 23, and Chloe, 22, from his marriage to Wendi Deng.
This ensures Lachlan’s control over Fox Corporation and News Corp at least until 2050, when he will be 79.
A Longtime Leadership Role Made Official
Lachlan has effectively run the Murdoch empire for several years, but this deal cements his position as the official successor.
The buyout provides his siblings with generous compensation—much more than Lachlan had been willing to offer initially—allowing them to step away from a news conglomerate they often viewed as politically conservative.
Real-Life Drama Echoes the TV Series Succession
Rupert, 94, built his empire from a single Australian newspaper into a global media powerhouse.
Over the years, his children—Prudence, Elisabeth, James, and Lachlan—were all seen as potential heirs.
Prudence had minimal involvement, while the others were considered capable successors. Concerned that Fox News might drift toward more centrist views under James and Elisabeth, Rupert wanted Lachlan, who had maintained the network’s right-wing focus, to take command.
Behind-the-Scenes Legal Battles
Earlier this year, Rupert and Lachlan faced off against their siblings in a secret legal proceeding in Reno.
They argued that Lachlan’s leadership would better preserve the financial stability and political positioning of the empire.
Despite their efforts, the commissioner overseeing the case was unconvinced, making a buyout the most likely path forward.
A Family Settlement Brings Closure
After a year of intensive negotiations, Lachlan has officially secured his role as the head of the Murdoch media holdings, while Rupert’s younger daughters remain involved through the new family trust.
With this settlement, the family avoids a drawn-out court battle and ensures the continuity of one of the world’s most influential media dynasties.