Inside the Deal Ending the Murdoch Succession Fight

After decades of infighting, the Murdoch family has reached a final agreement over control of its vast media empire. Lachlan Murdoch will remain firmly at the helm of Fox Corporation and News Corp, securing the conservative direction of outlets like Fox News, The Wall Street Journal, and The New York Post for decades to come.

The $3.3 billion deal buys out Lachlan’s three oldest siblings — Prue, Liz, and James — who will each receive $1.1 billion for their shares. In exchange, the long-disputed family trust, once meant to give all four eldest children equal control, will be dissolved. A new trust, including Lachlan and his younger sisters Grace and Chloe, will hold the controlling stake until 2050.

This settlement ends years of legal battles, including a high-profile trial in Reno that exposed deep rifts within the family and raised questions about the future of the empire. For Rupert Murdoch, now 94, the deal fulfills his long-standing goal of ensuring that the media powerhouse he built remains under the leadership of his chosen heir.

The arrangement allows both sides to claim victory: Lachlan secures control for the long term, while his less-conservative siblings exit with a hefty payout and distance from an empire whose politics they often opposed.

For more information see Jim Rutenberg and Jonathan Mahler “Inside the Deal Ending the Murdoch Succession Fight,” The New York Times, September 8, 2025.