"Last Monday, on his 54th birthday, Lachlan Murdoch received a gift he had been waiting decades for: official confirmation of his victory over his siblings especially James in the fight to determine who will succeed their father, Rupert Murdoch, perhaps the most powerful man in the media world and one of the most influential figures in U.S. politics."
"In exchange for full control and the assurance that his siblings will be removed from his sight in those businesses, 54-year-old Lachlan, who already took over from his father as head of the company after Rupert's (semi)retirement in 2023, will pay $1.1 billion to three of them: Prudence, 67; Elisabeth, 57; and James, 52."
"The most significant aspect of the deal is that it ensures the continuation, through the same channels, of the Australian magnate's conservative revolution his life's great work, a mix of ideology and business acumen in areas often neglected by the left. This will be made possible by the creation of a new 25-year trust, from which the other two younger daughters of the 94-year-old Rupert Murdoch who has been married five times will benefit."
Lachlan Murdoch secured official confirmation of his succession and full control of the Murdoch media empire while paying $1.1 billion to three siblings. The family controls more than 40% of Fox Corporation and News Corp, which together include Fox News, The Wall Street Journal, the New York Post, The Times of London, HarperCollins, and audiovisual platforms and media chains in Australia and the U.K. Day-to-day management will remain largely unchanged, with Lachlan continuing his digital and right-leaning podcast strategies. A new 25-year trust guarantees extended conservative influence and benefits Rupert Murdoch's two other younger daughters; Rupert is 94.
Read at english.elpais.com
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