Lachlan Murdoch to Assume Control of Family Media Empire in $3.3 Billion Buyout

Lachlan Murdoch will assume control of his family's media holdings under a roughly $3.3 billion agreement that buys out three of his siblings and creates a new trust to guarantee a controlling stake in Fox Corporation and News Corp, according to reports citing people briefed on the deal.

Under the arrangement, Prudence (Prue) Murdoch, Elisabeth (Liz) Murdoch and James Murdoch are expected to receive about $1.1 billion in cash for their shares, while a new family trust will include Lachlan, 54, and his two younger half-sisters, Grace, 23, and Chloe, 22. The settlement is intended to end ongoing litigation and internal disputes over succession and control of the companies that own outlets such as Fox News, The Wall Street Journal, The New York Post, The Sun, The Times and TalkTV.

The deal follows months of fraught negotiations after Lachlan and his father, Rupert Murdoch, sought last year to remove the three siblings from the family's irrevocable trust, a move that triggered litigation and sealed testimony in a hearing in Reno in September. That legal challenge, which attempted to demonstrate that Lachlan's stewardship would better preserve the businesses' financial security, did not succeed before a commissioner; still, discussions continued and culminated in the buyout.

Rupert Murdoch, 94, who built the global media group from a single Australian newspaper, had long sought to ensure continuity of control and reportedly favored Lachlan as his successor. Company holdings span major news and broadcast properties in the United States and the United Kingdom, with Fox News and the Wall Street Journal among the most commercially significant assets. Lachlan has been effectively running large parts of the business for several years, and the new structure is designed to secure his controlling role through at least 2050, when he would be 79.

People close to the family have said the three siblings sought a clearer break from the business, citing differences over editorial direction; in recent years Rupert Murdoch had expressed concern that Fox News might adopt more centrist positions under some family members' influence. The departure of Prue, Liz and James from ownership follows years of internal debate about the future leadership and editorial stance of the media group.

The original 1999 trust limited Rupert Murdoch's ability to name a successor, and the recent battles over control revived questions about governance in one of the world's largest private media conglomerates. The negotiations and the sealed legal proceedings in Reno drew public attention and comparisons to fictional media-family dramas, but the reported buyout aims to formalize succession and end the litigation.

The transaction's precise legal and governance terms, including the structure of the new family trust and any changes to board composition at Fox Corporation and News Corp, were not disclosed in detail by people describing the deal. Company filings required under securities law and corporate deadlines are expected to provide further specifics when the parties make formal disclosures.

Analysts said a settled succession reduces uncertainty about leadership and could affect strategic and editorial decisions across the group's outlets. It also resolves a high-profile family conflict that had raised questions among investors and media observers about the businesses' future direction and stability.

Representatives for the Murdoch family and the companies involved did not immediately react to requests for comment. The reported settlement follows a period of intense negotiation and legal maneuvering; whether the agreement will fully end all disputes depends on the final legal documentation and any remaining contractual claims.

The arrangement, if completed as reported, consolidates operational control with Lachlan Murdoch while providing the three siblings a cash exit from ownership, and creates a governance framework intended to preserve the family's controlling stake in the conglomerate's two principal public companies.