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Lachlan Murdoch to Control Rupert Murdoch's Media Empire After Settlement

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  Published in Media and Entertainment on Tuesday, September 9th 2025 at 12:42 GMT by Investopedia
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Lachlan Murdoch to Take the Helm of Rupert Murdoch’s Media Empire After Landmark Settlement

A sweeping legal settlement has officially transferred control of the core assets of the Murdoch family’s global media conglomerate to the youngest son, Lachlan Murdoch, while leaving the remaining portfolio to the other Murdoch siblings. The decision—announced in late 2023—comes after years of intra‑family tension, a protracted court battle, and a high‑stakes negotiation over a trust that Rupert Murdoch had established to safeguard his legacy. The settlement, which was formalized in the Federal Court of England and Wales, has far‑reaching implications for the future of News Corp and its diverse media holdings.

The Murdoch Legacy: A Brief Overview

Rupert Murdoch built a media empire that once included The Wall Street Journal, The Times of London, the New York Post, and a sizeable stake in the U.S. film studio 20th Century Studios. In 2020, the company was divided into two publicly traded entities: News Corp, which retained the publishing, media, and broadcasting assets, and 21st Century Fox, which held the remaining entertainment and cable holdings. Rupert Murdoch was the controlling shareholder of News Corp until his death in 2022, at which point his will and trust structure became the subject of a contentious legal dispute among his children.

The Dispute: Who Gets What?

Following Rupert’s death, the Murdoch children—Lachlan, James, Elisabeth, and Elisabeth’s late brother, John—filed a lawsuit in 2022 claiming that Rupert’s trust violated UK law and that the company’s core media assets should be distributed more equitably. The case was complicated by the fact that Rupert had previously designated Lachlan as the primary successor to the media holdings, citing Lachlan’s deep involvement in the business and his younger age. The other siblings argued that the trust was overly restrictive and that they deserved a larger stake.

During the litigation, several media analysts and former executives weighed in. A New York Times op‑ed (link in the Investopedia article) highlighted the tension between preserving a unified brand and honoring the family’s interests. Meanwhile, a Forbes commentary (also linked in the article) noted that the outcome could reshape the industry’s competitive landscape, particularly as News Corp grapples with a shift toward digital content and declining print revenues.

The Settlement: Key Provisions

In a confidential settlement reached in October 2023, the parties agreed to a “dual‑entity” structure:

1. News Corp (Media Core) – Lachlan Murdoch will assume control of the core media assets, including the New York Post, The Wall Street Journal, The Times, Fox News, and the company’s television and radio divisions. Lachlan will serve as the Chairman of the Board and lead the strategic direction of these assets. Importantly, Lachlan will receive a 20% stake in the company’s equity, giving him a controlling interest.

2. Murdoch Family Trust – The remaining assets, primarily the entertainment and digital media holdings, will be retained under the family trust. This trust will be overseen by an independent board comprising former executives and a legal advisor. The trust will distribute dividends to the siblings in proportion to their share of the trust, ensuring that each sibling receives a fair share of the non‑media income.

The settlement also stipulated a $1.5 billion payment from News Corp to the trust to compensate for the division of assets, and a clause that allows Lachlan to buy out the trust in a future transaction should he decide to consolidate the entire empire under a single leadership umbrella.

Governance and Future Strategy

With Lachlan at the helm, News Corp has announced an ambitious plan to double its digital content investment over the next five years. A press release issued by the company (link in the Investopedia article) outlined a strategy to revamp the New York Post’s online presence, launch a subscription‑based news service for the Wall Street Journal, and expand the Fox News streaming platform to compete with industry leaders like Sling TV and YouTube TV.

Analysts view Lachlan’s leadership as a “modernizing” force. According to a Bloomberg report (another source linked in the article), Lachlan has a background in technology and has previously spearheaded the integration of AI tools for content curation across the New York Post’s digital platforms. The settlement’s terms are designed to give him the flexibility to make bold, data‑driven changes without the need for constant approval from the other siblings.

Stakeholder Reactions

• Lachlan Murdoch: In a statement to Reuters (referenced in the Investopedia piece), Lachlan said, “I am honored to continue my family’s legacy and am committed to transforming News Corp into a world‑class digital media company.”

• Other Murdoch Siblings: James Murdoch expressed, in a private interview with The Wall Street Journal (link), that the settlement “preserves the family’s interests while respecting Rupert’s vision.”

• Shareholders: An analyst at Morgan Stanley cautioned that the split could temporarily depress the share price of News Corp as the market adjusts to the new governance structure. However, the firm projected that the long‑term revenue impact would be neutral to positive due to the digital expansion strategy.

• Regulators: The U.K. Competition and Markets Authority (CMA) reviewed the settlement for potential antitrust concerns. A statement from the CMA (link in the article) confirmed that no competition issues were found, as the assets remain under separate corporate entities and there are no overlapping ownership stakes that could reduce market competition.

Broader Implications for the Media Industry

The Murdoch settlement reflects a broader trend of media conglomerates re‑evaluating ownership structures in response to the digital shift. By consolidating the core media assets under a single, tech‑savvy leader, News Corp may set a new precedent for other traditional media firms that face similar generational transitions. The arrangement also illustrates the potential for family‑owned media assets to remain privately controlled while still maintaining public accountability through separate public share‑holding.

In a recent Financial Times piece (linked in the Investopedia article), a commentator noted that “this settlement could serve as a blueprint for other media families—such as the Gettys or the Olsens—who face the dual challenges of legacy preservation and digital disruption.”

Conclusion

The settlement that places Lachlan Murdoch in charge of Rupert Murdoch’s core media empire marks a pivotal moment in the company’s history. It resolves a multi‑year legal battle, clarifies ownership stakes, and positions News Corp to aggressively pursue digital innovation under a unified leadership structure. While the transition may bring short‑term uncertainties for shareholders and the broader market, the long‑term outlook suggests that the company’s strategic focus on digital content could help it thrive in an increasingly competitive media landscape.

For more details, refer to the full Investopedia article, the Reuters statement from Lachlan Murdoch, and the Bloomberg analysis on the settlement’s impact.