When reality is more interesting than fiction: The Murdoch family settlement is a real-life ‘Succession’
The news magnate is close to turning 100, and his children are fighting over his empire.
Fortunately or not, Rupert Murdoch was not stuck between Xi Jinping and Vladimir Putin when the pair of leaders were discussing eternal life.
The Australian news magnate will not live forever, and his empire will soon be passed down to his offspring. Like any good news story, this is a tale of backstabbing, greed, and power. Nail-on-head stuff when talking about Mr Murdoch, then.
The owner of all your favourite far-right news outlets — Fox News, The Wall Street Journal, The New York Post The Daily Mail, and The Sun — is 6 years away from turning 100, and his gaggle of children all wanted their slice of the pie.
And it’s Lachlan Murdoch who has won the battle, with the family confirmed on Monday that the 54-year-old has taken the keys to the business after a decades-long, billion-dollar lawsuit. The Hollywood Reporter says that Lachlan’s siblings, Prudence MacLeod, Elisabeth Murdoch and James Murdoch, “will each become beneficiaries of new trusts,” which will see the trio earn ”just shy" of a half billion dollars each.
“News Corp’s board of directors welcomes these developments and believes that the leadership, vision and management by the Company’s Chair, Lachlan Murdoch, will continue to be important to guiding the Company’s strategy and success,” News Corp. said in a statement.
Lachlan’s victory, in the words of The New York Times, means that the “media empire that holds vast political sway across three continents... will remain conservative after his father Rupert’s death.” All of Prudence, Elisabeth, and James are not as right-wing as their brother, who will continue to steer the ship in his father’s direction. Their report adds that he will remain in control, as he has done for the past few years, until 2050.
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