Lachlan Murdoch Shakes Up Fox Corp—What His Bold Strategy Means for News and Streaming

Lachlan Murdoch has emerged as the uncontested heir to his father Rupert Murdoch’s media empire after the Murdoch family signed a $3.3 billion settlement that dissolves a years-long succession dispute and hands Lachlan sole voting control over both Fox Corporation and News Corp. Key takeaways • The agreement restructures the Murdoch Family Trust so that Lachlan Murdoch and his half-sisters Grace and Chloe become the only beneficiaries with voting power, while older siblings Prudence, Elisabeth and James receive cash and stock buyouts reportedly worth $1.1 billion each. • Lachlan, 54, retains his current roles as executive chair and chief executive officer of Fox Corporation and executive chair of News Corp, giving him effective command of Fox News, The Wall Street Journal, HarperCollins, the New York Post and a portfolio of sports and streaming assets. • The settlement ends pending litigation in Delaware Chancery Court and averts the prospect of a public family trial that analysts feared could damage the brands and depress the stock price. Why it matters The Murdoch family saga has been closely watched on Wall Street and in political circles because Fox News and The Wall Street Journal wield enormous influence over U.S. politics and global financial markets. Securing unchallenged authority allows Lachlan Murdoch to chart a clear strategy as traditional television grapples with cord-cutting and streaming competition. Investors had worried that the trust deadlock might leave the companies rudderless if 94-year-old Rupert Murdoch were to pass away without a plan. What changes immediately • Board seats aligned with the outgoing siblings will be vacated over the next 12 months, consolidating Lachlan’s voting majority. • New oversight committees will be formed to manage the Remaining Beneficiary Trusts for Grace and Chloe until they come of age. • Analysts expect accelerated cost-cutting at News Corp’s print properties and fresh investment in sports-betting and advertising-supported streaming at Fox. Industry reaction Media-mergers attorney Linda Stone called the settlement “the cleanest resolution possible,” noting that it strips dissenting siblings of veto power that once complicated any large-scale sale or merger. Several bankers predicted renewed speculation that Lachlan could pursue a recombination of Fox and News Corp or even revisit an international streaming partnership. Background on the feud Tensions sharpened after Fox agreed to pay $787.5 million to settle Dominion Voting Systems’ defamation suit in 2023, a move critics blamed on Lachlan’s insistence on keeping opinion hosts despite mounting legal risk. James Murdoch had pushed for governance reforms and was widely seen as an internal challenger. The deadlock spilled into court last April when Prudence filed suit to block an earlier trust amendment, setting the stage for the now-resolved battle. What’s next for Lachlan Murdoch In a staff memo, Lachlan said the family “is united behind a shared vision for world-class journalism and robust debate,” signaling no imminent editorial overhaul at Fox News. He will appear at Goldman Sachs’ Communacopia & Technology Conference next week, where he is expected to outline his growth agenda, including rumored talks to buy the rights to future FIFA tournaments. Bottom line The settlement cements Lachlan Murdoch as the unequivocal steward of a powerful, conservative-leaning media empire at a moment when streaming disruption, political polarization and regulatory scrutiny are reshaping the industry.