The four children of the Australian media magnate Rupert Murdoch have agreed on the follow -up of his empire. His conservative son Lachlan Murdoch gets control of the company after a billion -dollar deal, the family announced on Monday.
The other three children Prudence, Elisabeth and James Murdoch each get around 1.1 billion dollars for their shares in the company, told a source with knowledge of the deal to The New York Times .
Rupert Murdoch had been in charge for a long time, because he adheres to the same conservative ideas as his father. But through a family fund that Murdoch Senior set up 25 years ago, the children had to lead the company with the four of us. In the years that followed, Lachlan became more and more his dream successor.
The media magnate tried to adjust the articles of association of the family fund at the end of last year, so that Lachlan would be in charge. He lost that legal struggle, after which the family members still sat down with each other.
The Family Fund ceases to exist with the deal. The 94-year-old Australian introduces a majority stake of his two media companies Fox Corporation and News Corp in a new fund. The 54-year-old Lachlan Murdoch is added to that, as well as his sisters Grace and Chloe. Rupert Murdoch has six children with three women.
Murdoch is one of the most powerful persons in the media world. His empire falls under his empire such as Fox News , The New York Post and The Wall Street Journal . He retired in 2023, after which Lachlan took over his duties.
The Four Children of Australian Media Magnate Rupert Murdoch Have Agreed on the Succession of his Empire. His Conservative Son Lachlan Murdoch Will Gain Control of the Company After a Billion-Dollar Deal, The Family Announced Monday.
The Other Three Children, Prudence, Elisabeth, and James Murdoch, Will Each Receive About $ 1.1 Billion for Their Shares in the Company, A Source Family With The Deal Told the New York Times .
Rupert Murdoch had Long Wanted Lachlan to take the lead because he shares the same conservative ideas as his father. But Due to a Family Trust That Murdoch Senior Set Up 25 Years ago, The Children had to run the Company Together. In The Years That Followed, Lachlan Increasingly Became His Desired Successor.
The Media Magnate Tried to Amend The Articles of Association of the Family Trust at the End of Last Year So That Lachalan would take the lead. He lost that legal battle, after which the family members still sat down with each other.
With the deal, the family trust ceases to exist. The 94-year-old Australian is Bringing a Majority Stake in His Two Media Companies Fox Corporation and News Corp Into A New Fund. The 54-Year-old Lachlan Murdoch Will be added to this, as well as his Sisters Grace and Chloe. Rupert Murdoch Has Six Children with Three Women.
Murdoch is Considered One of the Most Powerful People in the Media World. His Empire Includes Titles Such as Fox News , The New York Post , and the Wall Street Journal . Hey retired in 2023, after which laughing laughed over his duties.