Murdoch Succession Deal Gives Lachlan Control Through 2050, Buys Out Three Siblings
Lachlan Murdoch bought out his three siblings for $3.3 billion, consolidating control of Fox Corp and News Corp through a trust lasting until 2050, ending years of family disputes.
- Rupert Murdoch's family has reached a deal ensuring Lachlan Murdoch controls Fox Corp. until 2050, maintaining the network's direction, particularly for conservatives and Donald Trump.
- Lachlan Murdoch will control Fox alongside his younger sisters, Grace and Chloe, while his older siblings relinquished claims for $3.3 billion in stock.
- A new trust will be created for Lachlan and his sisters, resolving disputes over the succession of Rupert Murdoch's media empire.
- The agreement ends a lengthy family dispute regarding control of the media group after Rupert Murdoch's death.
139 Articles
139 Articles
A 'Win' For Lachlan Murdoch Is A Loss For Journalism
Andrew Dodd, The University of Melbourne and Matthew Ricketson, Deakin University Rupert Murdoch has succeeded in securing his vision for the future of News Corporation, the global media empire he has always thought of as his family business. To achieve this, he has torn apart his family. He has also ensured his media outlets, especially Fox News, remain committed to his hard right-wing views. With hindsight, this deal was inevitable. The 94-yea…
Lachlan Murdoch, now ruler of the Fox empire, touts victory in succession battle
"It's great news for investors," Rupert Murdoch's eldest son said of the family settlement. "It gives us a clarity about our strategy going forward — and shows that our strategy will be consistent."
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