Overview

• The long-running succession fight has been resolved with Lachlan Murdoch designated to wield decision-making power over the media empire when Rupert Murdoch is no longer in charge.
• Prudence MacLeod, James Murdoch and Elisabeth Murdoch agreed to exit the family trust in exchange for roughly $3.3 billion.
• Deal funding drew on earlier asset moves and reported financing, including cash enabled by the 2019 $71 billion Disney sale, a sell-down of voting stock and a J.P. Morgan loan of about $1 billion.
• Legal records from the Dominion and Smartmatic cases show Lachlan Murdoch weighed in on Fox News’ tone and guest choices and personally approved Jeanine Pirro’s return after the 2020 election.
• News Corp’s Australian operations greeted the outcome with relief, expecting continuity in leadership and editorial direction under Lachlan Murdoch’s stewardship.