Rupert Murdoch (94 )’s Mediaconglomaterate may continue to sail a conservative course in the coming decades under the leadership of son Lachlan (54), now three more progressive farmer and sisters have been bought out. Murdoch’s parent companies FOX Corp and News Corp, where Fox News, The Wall Street Journal and The New York Post fall under, announced on Monday.
Prudence (67), Elisabeth (57) and James (52) all receive around 1.1 billion dollars (more than 935 million euros) and, in turn, distances themselves from their shares in the largest media empire in the world. They had difficulty with the right-wing conservative sound of their father, while Lachlan is more in line with him.
The resolution preceded a bitter legal battle that, the older Rupert Murdoch, became more and more a race against the clock, and was an inspiration for the acclaimed HBO series Succession. Rupert tried to change the conditions of a family rest with considerable interests in Fox and News Corp, so that Lachlan could not be voted out after his death by his sisters and brother.
In 2023, Lachlan took over the daily management of his father’s companies, who previously indirectly described himself as the “patron of the conservative voice in the English -speaking world.” His father called him “the most suitable to run the company – respected inside and outside the company!”.
The judge ruled that Rupert and Lachlan had acted “in bad faith” and that led to new negotiations. In the end, Prudence, Elisabeth and James are bought out, such as Rupert that decades ago also did with his own sisters. Previous proposals did not come close to the amount they demanded. Now that an agreement has been concluded, there will be a new foundation with a majority stake in Fox Corp and News Corp, which also contains laughing lans younger half -sisters Grace (24) and Chloe (22). It will continue to exist until 2050.
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