Lachlan Murdoch gains control of Murdoch empire under 2050 trust

Lachlan Murdoch secured control of the Murdoch family media empire on Monday under a settlement that ends a public, yearslong succession fight and establishes a trust to govern Fox Corporation and News Corp until 2050. The agreement, reported at about $3.3 billion in value, will see Lachlan retain voting control while three of his older siblings each receive roughly $1.1 billion for their shares. Rupert Murdoch, 94, will remain involved as chairman emeritus.

The dispute erupted after Rupert Murdoch attempted to alter the terms of an existing family trust to concentrate control in Lachlan’s hands, prompting Prudence MacLeod, Elisabeth Murdoch and James Murdoch to sue to block the changes. A Nevada probate commissioner, Edmund J. Gordon Jr., had ruled in December 2024 that the effort was a “carefully crafted charade” carried out in bad faith. With appeals and continued uncertainty, the family ultimately negotiated a settlement to end the litigation.

Under the deal, the three siblings will sell their holdings in Fox and News Corp within six months and have agreed to a long-term ban on acquiring shares or taking actions involving the companies, Fox said. A new trust, set to expire...