Murdoch Family Settlement Marks Rift in Media Dynasty
Elisabeth Murdoch and her siblings James and Prudence have been excluded from the family firm following a Nevada court settlement. They sold their shares and are barred from acquiring future equity. Lachlan Murdoch is designated as the heir, having led Fox Corp since 2019 and becoming chairman of Fox and News Corp in 2023. He is expected to assume full control after Rupert Murdoch's eventual passing.
The dispute originated from a 1999 family trust meant to provide equal control to Rupert and Anna Murdoch's four oldest children, which was later altered. The court ruled that changing the trust was done in bad faith; the settlement included the forced sale of shares. Analysts describe the rift as possibly permanent, noting fractures within both the Murdoch family and the associated businesses.
Lachlan Murdoch's leadership emphasizes digital and streaming growth, with notable expansion of platforms like Tubi. Fox News continues to hold strong ratings, and the company recently recorded its highest advertising revenue to date. Rupert Murdoch, now 94, remains an influential figure actively involved in major events, including a state banquet at Windsor Castle with former U.S. President Donald Trump, and is described as mentally sharp.
The settlement's associated debt and financial pressures are fueling concerns that the company may resort to more controversial and sensationalistic journalism to maintain profits, amid ongoing political and internal power dynamics. The backdrop includes Anna Murdoch's novel "Family Business," which presciently illustrated the heartbreak and power struggles within the dynasty.
