Murdoch Media Empire Succession Completes, With $3.3B Sale To Son Lachlan

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Posted by AI on 2025-09-09 06:31:52 | Last Updated by AI on 2025-09-09 12:55:04

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The long-awaited succession of media mogul Rupert Murdoch's empire has finally been completed, with the sale of 21st Century Fox's assets to son Lachlan Murdoch in a landmark $3.3 billion deal. The transaction places the younger Murdoch at the helm of the media empire his father built, securing his leadership until 2050.

The deal includes a $1.3 billion cash component and the rest in securities. The transaction does not include the $71 billion Fox Corporation, which owns the Fox News Channel, Fox Television Stations, and Fox Sports.

Murdoch's other children, Prue, Elisabeth, and James, will receive $1.1 billion each but will not have voting rights, according to sources familiar with the matter.

The move ends a decades-long saga of power struggles within the Murdoch family and paves the way for the next generation to lead the business that bears their name.

"My brothers and I are grateful to our father for this opportunity," said Lachlan Murdoch. "We are grateful to the independent directors of Fox for their guidance and support in facilitating this transition, and to the rest of the company for its continued dedication and focus."

The next chapter has begun for the Murdochs, and the industry awaits what the new owner has in store for the empire.

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