Rupert Murdoch’s long-stagnant succession battle over the sprawling Murdoch media empire has reached a resolution as of September 8, 2025. The deal grants Lachlan Murdoch, Rupert’s politically conservative eldest son, secured control over key media assets, including Fox News, The Wall Street Journal, The Times (UK), HarperCollins, and other holdings.
Under the terms of the agreement, Rupert’s three older children—James Murdoch, Elisabeth Murdoch, and Prudence MacLeod—will each relinquish their stakes in Fox and News Corp and receive a payout of approximately $1.1 billion apiece. Their shares—roughly 16.9 million Fox Class B voting shares and 14.2 million News Corp Class B common shares—will be sold over the course of six months.
A newly formed family trust, valued at nearly $3.3 billion, will consolidate control under Lachlan’s oversight, while also including his younger half-sisters, Grace and Chloe Murdoch, as beneficiaries — though without voting rights. Lachlan retains sole voting power in this new trust structure, effectively cementing his leadership and ensuring ideological continuity.
The agreement brings to a close a high-profile court dispute that deepened in late 2023, when Rupert and Lachlan attempted to unilaterally modify the terms of a long-established irrevocable family trust—set up in 1999—to sideline James, Elisabeth, and Prudence. in December, a Nevada court rebuffed these changes, ruling that they were attempted in “bad faith,” which reopened avenues for negotiation.
While Lachlan consolidates control, the other siblings gain financial autonomy and freedom from the empire’s ideological slant. Analysts note that James, Elisabeth, and Prudence, seen as more politically moderate, may welcome the detachment—and the substantial financial compensation. Lachlan retains an ideological lock on the media outlets, fueling comparisons to the HBO drama Succession.
The market responded to the resolution with confidence, with Fox and News Corp stocks climbing to near-record highs following the announcement—reflecting investor optimism about strategic stability under Lachlan’s leadership.
In sum, this settlement resolves one of the most closely watched family feuds in modern media history. The Murdoch empire will now proceed under focused leadership, with Rupert assuming an emeritus role, as Lachlan charts its strategic future—while three siblings depart with substantial financial returns.
