Murdoch family reaches deal on who will control Fox after his death
Agreement creates a trust to put Lachlan Murdoch in charge of Fox Corp., with younger sisters joining; older siblings accept $3.3 billion in stock
Rupert Murdoch’s family has reached an agreement on who will control the media empire after the 94-year-old mogul’s death, creating a trust that cements his eldest son, Lachlan Murdoch, as the leader of Fox Corp. and preserves the network’s current direction.
Under the deal, Lachlan Murdoch will assume control of Fox Corp. through a family trust alongside his younger sisters, Grace and Chloe Murdoch, while three older siblings — Prudence MacLeod, Elisabeth Murdoch and James Murdoch — agreed to relinquish any claims to control in exchange for stock currently valued at about $3.3 billion, The New York Times reported. The agreement was disclosed Sept. 8, 2025, in reporting carried by multiple outlets.
The trust arrangement ensures continuity at Fox News, the flagship cable channel of Fox Corp. that has been a dominant voice for conservative viewers and for former President Donald Trump. Lachlan Murdoch has run major parts of the family’s U.S. operations in recent years, and the agreement leaves operational control with the faction of the family aligned with his leadership.
The deal resolves a long-running succession drama that drew frequent comparisons to the fictional HBO series Succession, with implications for the direction of a media conglomerate whose properties include cable news, broadcast television and streaming assets. Negotiations over control of the Murdoch holdings had been watched closely by investors, politicians and media executives because of the financial scale and political influence of the companies involved.
Company-level details released so far indicate the trust will govern holdings in Fox Corp., the publicly traded company that controls Fox News, Fox Broadcasting and other entertainment and sports properties. The stock payment to Prudence MacLeod, Elisabeth Murdoch and James Murdoch reflects their equity stakes and settles potential disputes over governance after Rupert Murdoch’s eventual passing.
Family members who retained control rights said the arrangement was designed to provide stability and continuity. Lachlan Murdoch’s role as chairman and chief executive of Fox Corp. in recent years positioned him as the natural successor in the eyes of those backing the trust, and the pact removes uncertainty about leadership that had brokered tensions within the family.
Analysts said the agreement reduces the likelihood of abrupt strategic shifts at Fox Corp. and supplies clarity to advertisers, investors and regulators who monitor the company’s business and political influence. Fox News remains a leading cable news outlet by viewership among conservative audiences, and its editorial stance has been a central factor in debates over the media’s role in politics.
The Murdoch family’s decision follows years of public and private disputes among siblings over management, editorial direction and the division of assets across the family’s global media holdings. Some family members had sought different governance structures or divestitures, while others favored consolidation under a single controlling trust.
With the succession plan now settled, attention will turn to the details of the trust’s governance, the timing of any transition after Rupert Murdoch’s death, and how the family’s holdings will be managed going forward. Investors and industry observers will watch for filings and corporate disclosures that will specify voting rights, trustee responsibilities and the mechanisms that will guide executive appointments and strategic decisions at Fox Corp.