Murdoch Family Trust Seals Succession with Lachlan in Lead
Lachlan Murdoch solidifies his control over the Murdoch media empire, following a family deal that ends a dispute over succession. The agreement involves multi-billion dollar trust benefits for Lachlan and siblings, ensuring Fox News' conservative legacy continues. The saga inspired the TV series 'Succession.'
The Murdoch family has finalized a deal that will secure Lachlan Murdoch's hold over the media empire, which includes Fox News and the Wall Street Journal, following patriarch Rupert Murdoch's passing. The agreement resolves intra-family disputes over one of the world's most renowned media conglomerates.
The family drama, which inspired the hit series 'Succession,' concludes with Rupert's children, namely James, Elisabeth, and Prudence, receiving shares which are set to be liquidated over a six-month span. The proceeds for each child are expected to be substantial, though exact figures remain undisclosed.
Lachlan Murdoch, benefitting from a newly established $3.3 billion family trust, is set to steer Fox and News Corp with a significant stockholding. Despite prior court challenges in Nevada, Lachlan's leadership now marks a significant chapter for the conservative-leaning media outlets. This move is viewed favorably by industry analysts for maintaining the influence of Fox News within U.S. political spheres.
(With inputs from agencies.)
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