Lachlan Murdoch Takes Charge as Family Succession Battle Ends
The long-standing succession battle within the Murdoch family has reached a resolution, with Lachlan Murdoch, the eldest son of media mogul Rupert Murdoch, taking control of the family’s extensive media empire. This announcement was made by the family’s companies on March 4, 2024, signaling a new chapter for the $24 billion media conglomerate that includes prominent outlets such as Fox News, The Wall Street Journal, and The Times of London.
Rupert Murdoch, aged 94, began his journey in the media industry at just 22 years old, inheriting an Australian newspaper from his father. Over the decades, he expanded his empire through strategic acquisitions, including 21st Century Fox, which he sold to Disney for approximately $71.3 billion in 2019. The empire’s growth has often been characterized by controversy, including a significant voicemail hacking scandal that earned Murdoch the nickname “the dirty digger.”
As part of the recent succession agreement, Lachlan will manage the media brands through a newly established trust. His siblings, James, Elisabeth, and Prudence MacLeod, will receive cash compensation for their shares, effectively removing them from direct control of the family businesses. This resolution follows years of public speculation regarding the future leadership of the Murdoch empire, particularly between Lachlan and his brother James, who historically had a more liberal approach to media compared to their father.
The Legacy of Rupert Murdoch
Rupert Murdoch’s impact on the media landscape is undeniable. His early career was marked by sensational journalism that drove sales and audience engagement, enabling him to launch Australia’s first national newspaper, The Australian, in 1964. The 1970s saw him acquire several major British tabloids, including The Sun and News of the World. The establishment of Fox News in 1996 solidified his influence in American media.
Throughout his career, Murdoch has also been a polarizing figure, known for leveraging his media outlets to support political candidates and influence public opinion. His approach has sparked debates about the ethical responsibilities of media owners, particularly in the context of climate change and public discourse.
Murdoch’s personal life has been equally complex. He has been married five times and is the father of six children, many of whom have been involved in the family business. His most recent marriage to Elena Zhukova, a retired molecular biologist, took place in 2024, following his divorce from former model Jerry Hall in 2022.
Key Figures in the Murdoch Family
Lachlan Murdoch, now at the helm, previously served as co-chairman of 21st Century Fox and has been instrumental in navigating the family’s media holdings. At 54, he has been a significant figure in the media landscape, overseeing Fox Corporation since his father’s decision to step down in 2023.
His brother James, aged 52, had been viewed as the potential successor but resigned from News Corp’s board in 2020 over disagreements regarding editorial content. James, who has taken a more liberal stance on various issues, including climate change, has since opened his own investment firm, Lupa Systems, and serves on the board of directors at Tesla.
Elisabeth Murdoch, 57, has also made her mark in the industry, having founded her own television production company, Shine, which she sold to her father in 2011. This sale earned her a seat on the News Corp board and significant financial compensation.
The eldest of Rupert’s children is Prudence MacLeod, aged 67, who is from his first marriage. Although she will not have control over the family’s media companies under the new agreement, she remains a part of the family’s legacy.
With Lachlan now firmly in control, the Murdoch family looks to the future as they navigate the challenges of a rapidly changing media landscape. The resolution of this succession battle marks a pivotal moment for one of the most influential media dynasties in history.
