Family of Murdoch reaches resolution in media empire conflict

Murdoch Family Trust Redistribution Secures Conservative Media Leanings

In a significant shakeup of the Murdoch family trust, 94-year-old media mogul Rupert Murdoch's attempt to unilaterally transfer control to his son Lachlan was blocked in court in Nevada last year. This was due to objections from his other children.

The recent agreement now sees Lachlan controlling a new family trust that oversees the media empire, including Fox Corporation and News Corp. The deal secures the conservative political leanings of Rupert Murdoch's news outlets for the future.

The family trust, which previously was controlled by four Murdoch children: Lachlan, James, Prudence, and Elisabeth, has undergone a major restructuring. James, Prudence, and Elisabeth have given up their stakes, reportedly receiving around $1.1 billion each (approximately €940 million).

The exact terms of the new arrangement regarding the family trusts for Wendi Deng's daughters are not specified. However, the deal does not affect Murdoch's ex-wife Wendi Deng's ownership of her family trusts for her daughters, Grace and Chloe. The new arrangement also benefits Wendi Deng, with family trusts being established for her daughters.

Critics argue that Fox and News Corp have contributed to the rise of political populists like Trump through sensationalism and right-wing propaganda. Despite these concerns, the deal does not change the control of the family trust that oversees the media empire, which is now controlled by Lachlan.

The deal is a multi-billion-dollar one, although the exact amount is not specified in the report. Other Murdoch siblings will be compensated handsomely. The trustee overseeing Rupert Murdoch's new family trust, which controls his media empire, has not been explicitly named in the provided search results.

Rupert Murdoch's media empire includes Fox News, the Wall Street Journal, the New York Post, and the British Times. The deal does not affect the conservative political leanings of Rupert Murdoch's news outlets, as they were already secured by the previous agreement.

James Murdoch, one of Rupert's sons, publicly expressed dissatisfaction with Fox News' coverage, including its promotion of Donald Trump's baseless claims of election fraud in 2020. Despite this, the deal has been finalised, ensuring the continuity of the Murdoch media empire under Lachlan's control.