Murdochs reach deal in succession battle, cementing conservative lean
Summary
Rupert Murdoch's son, Lachlan, will take control of the family media empire, continuing its conservative direction. A new deal ends years of family conflict, with Lachlan's siblings selling their shares and receiving cash through a new trust.Key Facts
- Lachlan Murdoch will control the Murdoch media empire after Rupert Murdoch's death.
- The agreement maintains the conservative stance of Fox News, The Wall Street Journal, and The New York Post.
- Lachlan's siblings, Prue MacLeod, Elizabeth Murdoch, and James Murdoch, will not be part of the trust holding Fox and News Corp shares.
- The siblings are expected to sell their shares in the coming months.
- A new trust will provide cash from selling about 14.2 million News Corp shares and 16.9 million Fox Corp shares.
- The family's struggles inspired the TV show "Succession."
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