Lachlan Murdoch takes over father Rupert's empire - an inheritance full of controversy!

Lachlan Murdoch takes over father Rupert's empire - an inheritance full of controversy!

In a significant move to secure his media group, Lachlan Murdoch, son of 94-year-old Rupert Murdoch, has taken control of his father's extensive media empire. A recently announced agreement ends the long-running family dispute over the succession and provides for Lachlan to direct the fortunes of Fox News, the Wall Street Journal and the British Times. According to KAWC reported.

The agreement, made public on Monday, calls for the siblings to sell their shares in Fox and News Corp. sell. It was agreed not to disclose the amount of the cash settlement, but according to reports in the New York Times, each of the three children will receive around $1.1 billion (938 million euros). This not only gives Lachlan Murdoch control of the companies, but also the support of his half-sisters Grace and Chloe, for whom a new family trust with an estimated value of around $3.3 billion is being set up.

Family disputes and succession planning

The family unification brings a long-standing conflict to a temporary end. James Murdoch, who has been critical of Fox News' coverage, and his sisters viewed Rupert and Lachlan's decisions as a betrayal. There are also changes with regard to the distribution of voting rights: In order to support the purchase financially, part of the shares will be sold to Murdoch companies, which will reduce the new family trust's previous voting shares from 40% to just over a third. In this way, Rupert Murdoch has taken a new course to focus his media group on conservative values ​​and to clarify misunderstandings within the family.

The original family trust provided that all four of Rupert Murdoch's eldest children would receive equal financial interests and voting rights. However, this arrangement has been challenged by Rupert in the past, leading to a dispute with a Nevada executor who deemed the intent to challenge the trust as malicious. Despite these difficulties, Rupert has already secured several major financial settlements in his career, including a $100 million payment to his eldest children.

Challenges for the future

The complex succession plan reflects the challenges that family businesses often have to overcome when handing over the business. According to [Deloitte]. The Murdoch family must now ensure that the newly formed family trust structure is stable and makes future-oriented decisions for the entire media group.

As Lachlan faces scrutiny from his siblings and the public, it is up to him to lead his father's legacy and navigate the changing media landscape. The moment marks both the end of an era and the beginning of a new phase in the history of the Murdoch empire.