• Lachlan Murdoch gains control of the family media empire, including Fox News and The Wall Street Journal.
• His siblings, James, Elisabeth, and Prudence, will each receive $1.1 billion in the deal.
• The new family trust ensures the conservative leanings of the empire continue post-Rupert Murdoch's era.

The Murdoch family has finalized a settlement to end a lengthy succession dispute over control of Rupert Murdoch's media empire. The agreement, announced on September 8, empowers Lachlan Murdoch, Rupert's eldest son, to manage a business portfolio that encompasses influential outlets such as Fox News, The Wall Street Journal, and The New York Post, ensuring their conservative direction remains intact after the patriarch's death, according to Huffpost, Newsweek, and BBC.

Under this $3.3 billion deal, Lachlan will operate under a new trust that excludes his three older siblings—Prudence, Elisabeth, and James—who will receive significant payouts for relinquishing their stakes in both Fox Corp. and News Corp. Each sibling is expected to pocket approximately $1.1 billion through cash sales of their media shares, further detailing the financial implications of the arrangement, as reported by SCMP and India Times.

This resolution places Lachlan while also ensuring benefits for his younger sisters, Grace and Chloe, as new trust beneficiaries. It marks a significant shift after a court ruling in December, which thwarted Rupert's prior attempts to amend the family trust, casting a shadow on the potential for a power struggle within the family, highlighting the drama reminiscent of HBO's series “Succession,” according to Le Monde and Al Jazeera.