MUMBAI: The Murdoch family succession drama has finally reached its climax. Lachlan Murdoch, Rupert’s favoured son and ideological ally, has emerged with undisputed control of Fox Corp and News Corp after a protracted courtroom battle in Nevada. The denouement sees three siblings—Prudence MacLeod, Elisabeth Murdoch and James Murdoch—cut out of the empire altogether, each walking away with a billion-dollar payday.
The companies announced on Monday that all litigation over the Murdoch Family Trust had been terminated. New trusts will be created for Lachlan and his half-sisters Grace and Chloe, with their combined holdings pooled into a new vehicle, LGC Holdco. That entity will command about 36.2 per cent of Fox’s Class B voting shares and 33.1 per cent of News Corp’s Class B stock. Crucially, sole voting power sits with Lachlan as managing director. The arrangement runs until 2050, effectively locking in his control for a generation. Rupert, 94, retains the honorary role of chairman emeritus.
The three departing heirs are not just sidelined—they are barred from returning. Their buyouts, partly funded by the sale of 16.9 million Fox and 14.2 million News Corp shares previously held by the trust, will be followed by the disposal of their remaining token stakes. A long-term standstill agreement ensures they, or their affiliates, cannot repurchase stock or interfere with the companies. Within six months, they will be gone in every sense: no shares, no votes, no say.
The outcome caps years of intrigue. James Murdoch, increasingly estranged from the empire, has openly backed Democrats and liberal causes. Elisabeth, once seen as a rival for the top job, nurtured her own ambitions in television. Prudence, though less visible, was part of the bloc resisting Rupert’s 2023 bid to rewrite the trust in Lachlan’s favour. That manoeuvre was struck down by a Nevada court last winter, which found Rupert, Lachlan and their advisers had acted in “bad faith.” The ruling forced negotiations that culminated in this week’s truce.
For Rupert, the settlement is as much about politics as power. By engineering billion-dollar exits for his dissenting heirs, he has secured not only Lachlan’s throne but also the conservative orientation of his media empire, anchored by Fox News. The prospect of a posthumous coup—James and Elisabeth uniting to steer the company leftward—has been neutralised.
Fox’s board endorsed the outcome, calling Lachlan’s leadership “important to guiding the company’s strategy and success.” Investors may also breathe easier: the messy trust fight, which threatened to destabilise one of the world’s most influential media conglomerates, has been neatly resolved.
It is an ending with all the hallmarks of the Murdoch mythos: courtroom secrecy in Reno, billion-dollar pay-offs, siblings sidelined, and one heir enthroned. Rupert, the ultimate showman, has once again scripted the finale to his family saga—leaving Lachlan in command until mid-century.
