A years-long family succession battle within Rupert Murdoch’s conservative media empire has ended, with his son Lachlan Murdoch set to assume control of the group. The agreement, announced on Monday, ensures that Fox News, The Wall Street Journal, and The New York Post will maintain their conservative orientation after Rupert’s death. At 94, the patriarch has long sought to secure the empire’s direction and settle disputes among his heirs.

Under the new arrangement, Lachlan Murdoch will control a restructured trust, while his siblings Prudence MacLeod, Elisabeth Murdoch, and James Murdoch will no longer be beneficiaries of any trust holding shares in Fox or News Corp. The deal follows years of friction within the family, as the three older siblings questioned the political and editorial path of the company’s powerful media outlets. The outcome effectively consolidates Lachlan’s authority and removes internal dissent over the group’s future direction.

The Murdoch succession saga has often mirrored the drama depicted in the television series Succession, which was inspired by the family’s internal struggles. Monday’s announcement serves as the finale of that real-life saga, formally ending all litigation over the family’s trust. The agreement also clears the way for Lachlan’s siblings to sell their holdings, a move expected to reshape their personal fortunes but remove their influence over the family business.

According to reports, Prudence, Elisabeth, and James Murdoch are set to receive around $1.1 billion each from the sale of approximately 14.2 million News Corp shares and 16.9 million Fox Corp shares. They will also be named beneficiaries of a new trust, which will hold the cash proceeds from these sales. While the financial settlement adds significantly to their existing inheritances, it also ensures that they no longer have a say in the governance of Fox or News Corp.

Commentators describe the deal as a decisive but costly win for Rupert Murdoch. Andrew Neil, former editor of the Sunday Times and founding chair of Sky TV, said the resolution removed the possibility of Lachlan being outvoted by his more politically moderate siblings after Rupert’s passing. Neil described Lachlan as “a chip off the old block,” adding that he now rules “without fear of interference,” solidifying his position as the uncontested leader of one of the world’s most influential media empires.

Source: BBC.