The Murdoch media dynasty, long considered one of the world’s most powerful family empires, has reached a watershed moment in its corporate history. Following a contentious closed-court battle in Nevada, three of Rupert Murdoch’s children—Elisabeth, James, and Prudence Murdoch—have been permanently excluded from the family business, receiving substantial financial settlements in exchange for relinquishing their stakes in Fox Corp and News Corp.
The settlement, which emerged from a legal challenge to a 1999 trust agreement established during Rupert’s divorce from second wife Anna Murdoch, represents a dramatic restructuring of the media conglomerate’s leadership future. Lachlan Murdoch, Rupert’s eldest son from his second marriage, now stands as the unequivocal successor to the 94-year-old media magnate’s empire.
This familial schism reflects deeper ideological divisions within the family. James Murdoch, who publicly characterized his father as a ‘misogynist’ during the proceedings, expressed feeling betrayed by Rupert’s decision to force the separation. The move was reportedly motivated by Rupert’s concerns that his more liberal-leaning children might steer the companies in a different political direction after his death.
Despite Lachlan’s successful tenure as CEO of Fox Corp—during which the company’s share price doubled and streaming service Tubi reached profitability—the resolution came at significant financial cost. The company’s improved performance under Lachlan’s leadership increased the valuation of the siblings’ shares, resulting in a substantially larger payout requirement.
Media analysts characterize this development as potentially permanent, with biographer Claire Atkinson describing it as ‘a sad ending’ for children who had grown up within the business. The Murdoch saga continues to draw comparisons to the acclaimed television drama ‘Succession,’ though reality has proven more complex and enduring than fiction.
While Elisabeth and Prudence are said to be focusing on moving forward and potentially reconciling with their aging father, James’s relationship with both Rupert and Lachlan appears irreparably damaged. The settlement includes provisions preventing the excluded siblings from purchasing equity in the family companies in perpetuity.
As Lachlan Murdoch consolidates control, industry observers note his distinct leadership style—more focused on business fundamentals and digital expansion than political kingmaking. However, the substantial debt incurred through the settlement may pressure the company to maintain profitable but politically divisive programming strategies that have characterized Fox News’s success.