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Murdoch buys out liberal children to end succession battle
Lachlan Murdoch secures control of Fox Corp. and News Corp., while siblings receive $3.3 billion in buyouts, ending a family dispute that shaped conservative media's future.
- On Monday, the Murdoch family announced that eldest son Lachlan Murdoch secured uncontested control by consolidating voting rights in LGC Holdco LLC, overseeing Fox Corporation and News Corp.
- Rupert Murdoch had sought to ensure Lachlan Murdoch's inheritance by attempting to alter the family's irrevocable trust, a move criticized in a Reno, Nevada courtroom by probate court commissioner Edmund Gorman as improper.
- The settlement will pay Prudence MacLeod, Elisabeth Murdoch, and James Murdoch about $1.1 billion each, with share sales raising roughly $1.37 billion over six months.
- Markets reacted after the deal, with Fox and News Corp shares falling about 5%, but analysts said the settlement removes succession uncertainty and Lachlan Murdoch will retain control until at least 2050.
- The settlement positions the empire to secure conservative editorial direction under Lachlan Murdoch, yet his skepticism of Donald Trump may create tensions, while Lightshed analyst Rich Greenfield foresees M&A and content investment.
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24 Articles
24 Articles
Rupert Murdoch's son Lachlan is buying out the media empire from his siblings, securing control of the company his father founded.
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Coverage Details
Total News Sources24
Leaning Left10Leaning Right4Center3Last UpdatedBias Distribution59% Left
Bias Distribution
- 59% of the sources lean Left
59% Left
L 59%
C 18%
R 24%
Factuality
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