Rupert Murdoch's kin hammer out arrangement for management of media dominion following his demise
In a significant development, the Murdoch family announced on Monday that they have reached an agreement to end their bitter dispute over the control of Rupert Murdoch's media empire after his death. The negotiations, which took place within the family but the exact location remains undisclosed, culminated in early September 2025.
The agreement, named "Project Family Harmony", grants control of Fox Corp. to Lachlan Murdoch, one of Rupert's heirs. Lachlan's sisters, Grace and Chloe, will also share in the control under a new trust, effective until 2050.
In exchange for giving up any claims to control of Fox, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, Rupert's other children, will receive $3.3 billion in stock. Lachlan's three older siblings have agreed to a long-term ban on acquiring shares of Fox and News Corp. They have six months to sell any personal holdings in Fox.
The court fight over the changes to the trust began due to concerns that the three siblings, known to be less conservative than their father, could force Lachlan out and potentially change Fox's direction after Rupert's death. The Nevada probate court initially ruled in favor of Prudence, Elisabeth, and James in blocking the changes to the trust. However, the court later described the changes as a "carefully crafted charade" designed to entrench Lachlan Murdoch's control.
Former Attorney General William Barr was involved in the case, which has involved dozens of lawyers. The outcome of the appeals regarding the family dispute was uncertain at the time of the deal.
Fox News, a part of the media empire, is the most popular network for President Donald Trump and conservatives. The bid to give Lachlan control of the trust marks a significant shift in the direction of the media empire, potentially solidifying its conservative stance for years to come.
The bid to give Lachlan control of the trust was not without controversy. James Murdoch, referred to as the "troublesome beneficiary" in sealed court papers, was at the centre of much of the dispute. The case has raised questions about the future of media ownership and the role of family dynasties in shaping public opinion.
As the dust settles on the Murdoch family's bitter dispute, attention now turns to the future of Fox Corp. and the direction it will take under Lachlan Murdoch's leadership.
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