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Lachlan Murdoch secures leadership of Rupert Murdoch’s media empire until 2050, with siblings Prue, Elisabeth, and James receiving $1.1 billion each but no voting rights.
Rupert Murdoch’s family succession battle ends with a $3.3 billion deal and new trust formation.
Murdoch Family Succession Battle: A long-standing Rupert Murdoch family succession battle came to an end after the family announced that the media tycoon’s son Lachlan Murdoch is set to spearhead the behemoth media empire for at least 25 years. Lalchan and his family cemented an agreement valued at $3.3 billion as quoted by The New York Times, ensuring his leadership for the media outlets such as Fox News, The Wall Street Journal, The New York Post and others until 2050.
Under the agreement, a new trust has been created that will expire in 2050. Till then, Lachlan Murdoch will oversee the businesses, including News Corp (owner of outlets like The Wall Street Journal, The New York Post, The Times of London, and The Australian) and Fox Corporation (home to Fox News, Fox Sports, and streaming service Tubi).
What’s The Matter Of Contention?
The conflict arose in 2023 after Rupert Murdoch, the media tycoon, stepped down as chairman of News Corp and Fox. He named Lachlan as the sole successor with full voting rights of his empire, discrediting the old agreement of 1999, where the family trust was designed to ensure equal control among the four eldest children (Prue, Elisabeth, Lachlan, and James) after Rupert’s death.
The rationale behind his wish to amend the “irrevocable” family trust to give Lachlan sole control of the voting shares was to preserve the companies’ “commercial value” by maintaining their conservative editorial stance, particularly for Fox News. Murdoch feared that without this, siblings like James might ally with Prue and Elisabeth to push for neutrality, potentially diluting the brand’s profitability or even selling off assets like Fox News.
Other siblings weren’t happy with this decision, to be quoted internally as “Project Family Harmony”. They called it a betrayal and took the matters to the court.
The case (In the Matter of the Doe 1 Trust) proceeds under seal in Reno’s Washoe County Courthouse. Media outlets (including The New York Times) petition to unseal it, arguing public interest in the empire’s future, but a judge denies access in September 2024.
A secret trial unfolds over a week, with Rupert and his four eldest children testifying. Revelations include family therapy sessions in 2010 (to address James’s “headstrong” style), the 2011 phone-hacking scandal at News Corp’s News of the World (which upended earlier succession plans), and accusations of manipulation. Lawyers for the siblings mocked Rupert’s claims as a “film noir” plot of a “Machiavellian Lachlan” scheming against his father.
Probate Commissioner Edmund Gorman Jr. rules against Rupert and Lachlan in a scathing 96-page opinion, calling their effort a “carefully crafted charade” done in “bad faith” to “stack the deck” for Lachlan, ignoring the other beneficiaries’ interests.
Before the final court ruling, the family reached an agreement, averting the dismantling of the original trust.
According to agreement, Lachlan got the full voting power through a new trust that includes him, Grace, and Chloe. The siblings are now equal financial beneficiary but without any voting rights. This ensures that the conservative tone of the media house remained intact.
Prue, Elisabeth, and James each receive ~$1.1 billion (totaling $3.3 billion), funded partly by selling ~14.2 million News Corp Class B shares and ~16.9 million Fox Class B shares from the old trust.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
September 09, 2025, 10:51 IST
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