Lachlan Murdoch has secured control of Fox Corp. and News Corp. after a stunning $3.3 billion settlement that buys out his three siblings, ending a bitter public feud and solidifying the media empire's conservative future.
The golden handshake: The agreement forces a clean break, with siblings James, Elisabeth, and Prudence MacLeod each walking away with a reported $1.1 billion. In exchange, they will sell all their personal holdings in the companies and are barred from buying back in.
The courtroom charade: The massive payout follows a failed legal maneuver by the 94-year-old patriarch Rupert Murdoch to alter an irrevocable family trust. A Nevada court rebuffed the effort, with the probate commissioner calling it a "carefully crafted charade." That ruling forced the family to the negotiating table.
Iron grip, smaller stake: Funding the buyout dilutes the Murdoch family's voting power to roughly 36% in Fox Corp. and 33% in News Corp. While a smaller slice of the pie, it’s still a large enough stake to crush any shareholder dissent.
With the family drama resolved, Lachlan Murdoch has a clear runway to reshape the business. He has already steered the company toward digital acquisitions like the streaming service Tubi, and can now fully focus on strategy without the threat of a succession battle. The settlement provides key stability for Fox ahead of major sports rights renewals with major partners like the NFL and FIFA. Meanwhile, the Murdochs' consolidation contrasts sharply with competitors, as rivals are splitting up, including Warner Bros. Discovery and NBCUniversal's parent Comcast.
