Newscasts - Real-life 'Succession' ends: Lachlan Murdoch wins control

News Corp

09/09/2025 04:54

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_xzgaz8e4&referenceId=tag:reuters.com,2025:newsml_RW326209092025RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: The Murdoch family has reached a deal that will see Rupert Murdoch's politically conservative eldest son Lachlan Murdoch cement control of the family media empire that includes Fox News and the Wall Street Journal. Julian Satterthwaite reports. 

Short Link: https://lseg.group/3JWX8Ua

Video Transcript:

It is the real-life story that supposedly inspired TV drama "Succession". But the battle for control of Rupert Murdoch's family empire seems to have reached its final episode, and the victor is the tycoon's oldest son. An agreement announced Monday will see Lachlan Murdoch cement control of the media group. Rupert's children James and Elisabeth Murdoch, and Prudence MacLeod, will sell major stakes. One Reuters source says they will get about $1.1 billion each. Meanwhile, a new trust will be created to benefit Lachlan and his younger siblings Grace and Chloe Murdoch. The battle for control had played out last year in a Nevada courtroom. Rupert Murdoch wanted to change the terms of a family trust that holds big stakes in Fox News-parent Fox Corp, and Wall Street Journal-owner News Corp. He was concerned that James, Elisabeth, and Prudence could mount a coup to oust the politically conservative Lachlan and wanted to amend the trust to block interference by the more liberal siblings. But the court rejected that plan, with a source saying the ruling opened the way for new settlement talks. Now Lachlan's anointment as successor ensures that the family empire retains its conservative tilt. That's sure to be welcomed by Republicans, who prize the prominent role played by Fox News in US politics.