The Murdoch family has reached a landmark agreement to end a long-running and often bitter legal fight over who would control Rupert Murdoch’s global media empire. The deal, announced Monday, secures Lachlan Murdoch’s position as heir, while his three eldest siblings will each receive an estimated $1.1 billion for their stakes in the business.

The outcome consolidates control of Fox Corporation and News Corp — which own Fox News, The Wall Street Journal, The Times of London, and publisher HarperCollins — firmly in Lachlan’s hands. He has chaired News Corp since 2023, taking over from his father, who remains one of the most influential figures in global media at 94.

The settlement follows years of family infighting that drew comparisons to HBO’s Succession, loosely inspired by the Murdochs. Rupert’s children from his third marriage, Chloe and Grace, will join Lachlan in a new family trust that holds controlling stakes in the companies. Meanwhile, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch will benefit from a separate trust funded by their buyout.

At the heart of the dispute was Rupert Murdoch’s controversial plan, reportedly dubbed “Project Family Harmony,” to consolidate voting power in Lachlan’s hands. His older children challenged the move in a Nevada court, arguing it was a bad-faith attempt to sideline them. In December, commissioner Edmund Gorman ruled against Rupert and Lachlan, accusing them of orchestrating a “carefully crafted charade” to cement Lachlan’s role.

Court records showed Rupert privately argued Lachlan was the only one capable of preserving the company as a “protector of the conservative voice in the English-speaking world.” He told his ex-wife Anna he wanted “peace all around” but stressed that Lachlan was “greatly respected inside and outside” the business.

Not all siblings shared that view. James Murdoch in particular has been sharply critical of Fox News’ political stance and its support of Donald Trump, calling the network a “menace” to democracy. He has also condemned his father as a misogynist, highlighting deep personal and political rifts in the family.

With the deal finalised, Lachlan Murdoch now becomes the de facto heir to a sprawling empire that spans television, newspapers, publishing, and streaming platform Tubi. In a statement, News Corp’s board praised his “leadership, vision and management,” signalling continuity in the company’s conservative editorial direction.