The Murdochs Settle Their Fox Family Feud

The Murdoch family has settled its succession dispute and the related Nevada lawsuit concerning the Murdoch Family Trust (MFT), reaching a “mutual resolution” that ends all litigation among the parties.4

Under the agreement, Lachlan Murdoch, Rupert Murdoch’s chosen successor, will maintain voting control of News Corp and Fox Corp, with Rupert retaining the role of Chairman Emeritus. 

The deal excludes Lachlan’s siblings—Prudence MacLeod, Elisabeth Murdoch, and James Murdoch—as beneficiaries of the MFT. 

Rupert Murdoch

Each will receive a $1.1 billion payment, funded by the public sale of approximately 14.2 million News Corp shares and 16.9 million Fox Corp shares previously held by the MFT.

This resolution ensures that News Corp and Fox remain under Lachlan and Rupert Murdoch’s control, preventing Prudence, Elisabeth, and James from initiating a takeover after Rupert’s death.

Post-transaction, LGC Holdco, owned by Lachlan Murdoch and Rupert’s daughters with Wendi Deng, Grace and Chloe Murdoch, will hold all remaining News Corp and Fox shares previously owned by the MFT.

Within six months following the transactions, Prudence, Elisabeth, and James will sell their minimal personal stakes in News Corp and Fox, leaving them with no ownership in either company. They will also be bound by a long-term standstill agreement, prohibiting them and their affiliates from acquiring shares in either company.