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Murdoch Family Settles Succession Fight, Handing Fox and News Corp Control to Lachlan Murdoch

A new trust vests voting power through 2050 with Lachlan Murdoch, resolving the yearslong court battle over the family’s media holdings.

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SUN VALLEY, ID - JULY 13: (L to R) Rupert Murdoch, executive chairman of News Corp and chairman of Fox News, and Lachlan Murdoch, co-chairman of 21st Century Fox, walk together as they arrive on the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. (Photo by Drew Angerer/Getty Images)
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Overview

  • Lachlan Murdoch gains sole voting control of trust-held stakes in Fox Corp. and News Corp through his appointed managing director under a new structure set to run until 2050.
  • Prudence MacLeod, Elisabeth Murdoch and James Murdoch will exit the businesses and are expected to receive roughly $1.1 billion each in cash for their shares.
  • Funding includes an underwritten public offering of about 16.9 million Fox Class B shares and the sale of about 14.2 million News Corp Class B shares previously held by the family trust.
  • The agreement ends all Nevada litigation after a probate commissioner found in December 2024 that Rupert and Lachlan Murdoch acted in “bad faith” when trying to amend the old trust.
  • Departing beneficiaries will cease to be beneficiaries of any trust holding Fox or News Corp shares and face restrictions on acquiring new stakes, while Rupert Murdoch remains chairman emeritus.