The curtain has finally fallen on one of the most closely watched succession dramas in modern media history. On Monday, September 8, 2025, the Murdoch family announced that they have resolved their long-running battle over the future of their vast media empire, which includes Fox News, The Wall Street Journal, and the New York Post. The deal cements Lachlan Murdoch, Rupert Murdoch’s eldest son and a staunch conservative, as the sole controller of the family trust that governs the companies after the 94-year-old patriarch’s death. The agreement brings to an end years of legal and personal wrangling that inspired the hit HBO series "Succession," and ensures that the conservative tilt of the Murdoch media dynasty will endure for the foreseeable future.
According to The New York Times, the settlement was reached after a bruising legal fight that began when Rupert and Lachlan Murdoch attempted to unilaterally change the terms of the family’s irrevocable trust. The trust, established after Rupert’s 1999 divorce from his second wife, Anna, originally gave his four eldest children—Prudence, Elisabeth, Lachlan, and James—equal say in the control of Fox and News Corp after his passing. Rupert, however, worried that his three other heirs, who are more politically moderate, could band together to oust Lachlan and shift the ideological bent of the empire. The Murdochs’ attempt to change the trust was blocked by a Nevada probate court in December 2024, with Commissioner Edmund J. Gordon Jr. calling it a “carefully crafted charade” designed to entrench Lachlan’s control. This ruling set the stage for months of intense negotiations.
Under the terms of the agreement, Lachlan Murdoch will have sole voting control over a newly created family trust that holds controlling stakes in Fox Corporation and News Corp until 2050. The trust will also benefit his two younger sisters, Grace and Chloe, Rupert’s children from his marriage to Wendi Deng Murdoch. Fox Corporation, which Lachlan will now steer without interference, owns Fox News Media, Fox Entertainment, Fox Sports, affiliate contracts, and the Tubi streaming service. News Corp’s holdings include The Wall Street Journal, HarperCollins, the New York Post, The Times (UK), The Sunday Times, The Sun, and The Australian, among other publications.
Meanwhile, Rupert’s three other adult children—Prudence MacLeod, Elisabeth Murdoch, and James Murdoch—will each receive payouts of about $1.1 billion, according to sources cited by Reuters and The Associated Press. The siblings have agreed to sell their personal holdings in Fox and News Corp over the next six months, relinquishing any claim to control or influence over the companies’ direction. The sale involves approximately 16.9 million shares of Fox Corp Class B voting stock and about 14.2 million shares of News Corp Class B common stock, priced at a roughly 4.5% discount to the last closing price, raising around $1.37 billion. The total value of the Murdoch media empire is estimated at $3.3 billion, with the new trust set to hold 36% of Fox’s Class B common stock and 33% of News Corp’s Class B shares.
The family’s internal battle was more than just a clash of personalities—it was a struggle over the future ideological direction of some of the world’s most influential media outlets. Prudence, Elisabeth, and James are all considered less conservative than their father and brother, raising concerns among right-leaning investors and audiences that Fox News and its sister properties could drift toward the political center. Lachlan’s victory in the succession saga has put those fears to rest, at least for now. As Claire Enders, CEO and founder of UK-based media research firm Enders Analysis, told Reuters: “You know that there will always be a conservative guardian of Fox News. And frankly, if I were a shareholder, I would really think this was a very good move.”
The deal also puts to rest the possibility of a "coup" by the more moderate siblings. Andrew Neil, former Sunday Times editor and founding chair of Sky TV, told the BBC that Rupert Murdoch had always feared that Lachlan would be outvoted by his siblings after his death. “That won't happen now because they've been bought out… Lachlan Murdoch is now king of the hill in a new trust that will have control of the organisation and he runs that without fear of interference from his siblings,” Neil said.
Fox News, in particular, remains a dominant force in American media and politics. According to Nielsen ratings cited by TIME, Fox News was the top primetime network from the start of summer through Labor Day 2025, averaging more than 2.4 million viewers during primetime and outperforming major broadcast shows like CBS’ "Big Brother" and NBC’s "American Ninja Warrior." The network is a favorite among conservatives and former President Donald Trump, and its influence in shaping U.S. political discourse is likely to continue under Lachlan’s stewardship.
The agreement was not reached without drama. The court fight, which began as "Project Family Harmony," saw dozens of lawyers—including former Attorney General William Barr—become involved. Sealed court documents obtained by The New York Times described James Murdoch as the "troublesome beneficiary," highlighting the bitter personal and ideological divisions within the family. Ultimately, with appeals dragging on and the outcome uncertain, the Murdochs came together to hammer out a settlement that would end the family bitterness and secure the empire’s future direction.
For Rupert Murdoch, who built his media empire over seven decades and turned Fox News into the number one cable news network in the U.S., the outcome is a personal victory as well. The 94-year-old mogul is reportedly pleased that Lachlan will inherit control, ensuring that the conservative editorial stance he championed will continue. As The Associated Press reported, “The deal ensures no change in direction at Fox News, a key network for conservatives and former President Donald Trump.”
With the new trust in place until 2050, and the other siblings agreeing to a long-term ban on acquiring additional shares or taking any actions involving Fox or News Corp, the possibility of future family infighting seems remote. The real-life resolution to this high-stakes family brawl has not only preserved the Murdoch legacy but also offered a rare glimpse into the inner workings of one of the world’s most powerful media dynasties.
The Murdoch saga, which played out in courtrooms and boardrooms as well as on television screens, has finally reached its denouement. The conservative bent of Fox News and its sister properties is now secure in Lachlan Murdoch’s hands, and the family’s story, for now, has found its ending.
