Rupert Murdoch’s family reaches deal on who will control media empire after his death
Rupert Murdoch’s Family Reaches Deal on Control of Media Empire
Rupert Murdoch’s family has reached a deal on control of the 94-year-old mogul’s media empire after his death, ensuring no change in direction at Fox News, the most popular network for President Donald Trump and conservatives.
The deal creates a trust establishing control of the Fox Corp. for Lachlan Murdoch, Rupert’s chosen heir who has been running Fox in recent years, along with his younger sisters, Grace and Chloe.
Lachlan Murdoch’s three older siblings, Prudence MacLeod, Elisabeth Murdoch and James Murdoch, give up any claims to control of Fox in exchange for stock currently valued at $3.3 billion, according to The New York Times, which first reported news of the deal.
It ends a drama that has been like a real-life version of HBO’s “Succession,” only with huge financial implications and an impact on U.S. politics.
After the passing of media tycoon Rupert Murdoch, his family has come to an agreement regarding the future control of his vast media empire. The deal ensures that Fox News, a network highly favored by President Donald Trump and conservatives, will not undergo any significant changes in direction.
The arrangement involves the establishment of a trust that grants control of the Fox Corp. to Lachlan Murdoch, Rupert’s designated successor who has been actively involved in running Fox in recent times. Joining Lachlan in this control are his younger sisters, Grace and Chloe.
In exchange for relinquishing any control claims over Fox, Lachlan Murdoch’s three older siblings – Prudence MacLeod, Elisabeth Murdoch, and James Murdoch – will receive stock valued at $3.3 billion. This agreement, as reported by The New York Times, marks a significant turning point in the future leadership of the media conglomerate.
The resolution of this succession battle mirrors the intense power struggles depicted in popular TV series like HBO’s “Succession,” albeit with real-world implications that extend beyond the financial realm and into the realm of U.S. politics.
