The succession battle over Fox News has concluded with Lachlan Murdoch emerging as the clear victor in control of the conservative media giant.
The Australian businessman’s eldest son will maintain executive governance over the network that transformed his father into a conservative media icon.
The agreement resolves years of legal disputes among Rupert Murdoch’s heirs.
The $3.3 billion deal ensures Fox News will preserve its center-right editorial direction under Lachlan’s leadership.
This outcome represents a significant victory for conservative media advocates who feared potential ideological shifts.
Rupert Murdoch’s children had engaged in prolonged legal battles over editorial control of the network.
Siblings Prue, Liz and James expressed concerns that excessive control granted to Lachlan would diminish their interests in the family’s irrevocable trust.
The legal proceedings began when Lachlan initially pursued significant modifications to the family trust contract.
While his original court bid was unsuccessful, the litigation process facilitated negotiations leading to Monday’s settlement agreement.
Rupert Murdoch expressed approval of the succession arrangement, describing it as protection for the “protector of the conservative voice in the English-speaking world.”
His public endorsement underscores the ideological importance of maintaining Fox’s current editorial stance.
The 94-year-old media mogul revolutionized American broadcasting with Fox News’ 1996 launch.
He built this success upon his earlier achievements with Australian newspapers before expanding into the United States under the News Corp umbrella.
The New York Times reported that the settlement terms provide each remaining Murdoch child with $1.1 billion for their media empire shares.
These payments represent approximately 80 percent of Friday’s closing stock value, according to sources familiar with the negotiations.
The existing family trust structure will be dissolved as part of the agreement.
A new Murdoch family trust will be established, incorporating Lachlan and his sisters Grace and Chloe as beneficiaries.
This new trust arrangement will maintain controlling interests in both Fox Corporation and News Corp, the two primary components of the Murdoch media empire.
The structure ensures continued family oversight of these major media properties. Current corporate leadership will remain unchanged following the settlement.
Lachlan has already been managing company operations since his father stepped down from active leadership in November 2023.
The agreement addresses the varying interests of all Murdoch children involved in the dispute.
Prue, Liz, and James, who hold less conservative political views than Lachlan, sought separation from a media company whose editorial positions they frequently opposed.
These siblings will receive substantially higher compensation for their shares compared to previous buyout proposals from Lachlan. The increased financial terms helped facilitate their agreement to exit the family media business.
Lachlan now faces the challenge of maintaining Fox’s relevance amid the rapidly evolving conservative media landscape.
This comes especially as new platforms including podcasts, online news sites and content aggregators are gaining mainstream recognition and White House press access.
