US EditionMurdoch Succession Deal Gives Lachlan Control Through 2050, Buys Out Three Siblings
Lachlan Murdoch secures leadership of Fox Corp and News Corp through a $3.3 billion deal, while siblings receive buyouts and relinquish voting rights in the family trusts.
- Lachlan Murdoch secured control of the family media empire, which includes Fox News and The Wall Street Journal, following a legal battle with his siblings, Prudence, Elisabeth, and James, who each received $1.1 billion for their shares in the companies involved.
- A new family trust will benefit Lachlan and his younger sisters, Chloe and Grace, which will last until 2050, allowing Lachlan to maintain voting power without interference from his siblings.
- The deal ends a public family feud over changes to a trust holding shares in Rupert Murdoch's companies, which has inspired the HBO series Succession, highlighting the dynamics within the Murdoch family.
- As Rupert Murdoch is now in his 90s, this agreement ensures that Lachlan will control Fox News, The Wall Street Journal, and other properties of the family business after his father passes away.
132 Articles
132 Articles
Here’s How Much Each Of Rupert Murdoch’s Kids Could Be Worth
A settlement announced Monday ended a two-year dispute over control of the trust that holds the family’s FOX and News Corp shares. But 94-year-old patriarch Rupert Murdoch has a lot of other assets to divvy up.
CHRONIQUE. The 94-year-old magnate considered his eldest son, Lachlan, the most able to take over the reins of his empire. But for this it was necessary to compensate the other children and to change the trust that controls the group. The conduct of business and the family agreement rarely make a good living, says Isabelle Chaperon, a columnist in the "World Economy" department.
The real life ‘Succession’ – Murdoch’s eldest son wins control of €3bn family media empire
Rupert Murdoch and his children resolved a family feud with a settlement that gives favoured son Lachlan Murdoch broad control, and ensures Fox News and the rest of the sprawling media empire retains its conservative slant.
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