Rupert Murdoch’s succession war is over for the media empire.
The family announced Monday that Murdoch’s eldest son, Lachlan Murdoch, will secure control of Murdoch’s vast media empire, including Fox News, Wall Street Journal In the UK, his three oldest siblings have all received $1.1 billion in stake.
The deal ended a legal battle between Murdoch’s oldest children to control the business of his 94-year-old father. It also conservatively adheres to media companies’ conservative tendencies; Lachlan Murdoch is considered the most conservative of Murdoch’s oldest child.
Under the agreement, Prudence MacLeod, Elisabeth Murdoch and James Murdoch will become beneficiaries of the trust that will accommodate the proceeds for sale.
Lachlan Murdoch era and the New York Post, after inheriting his father in 2023.
“News Corp’s board of directors welcomes these developments and believes that the leadership, vision and management of the company’s chairman Lachlan Murdoch will continue to be crucial to guiding the company’s strategy and success,” News Corp said in a statement.
More details as soon as possible…
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