The succession battle at Rupert Murdoch’s media empire has ended.

The family announced on Monday that Lachlan Murdoch, Murdoch’s eldest son, will secure control of the Murdoch’s sprawling media empire, that includes Fox News, The Wall Street Journal and The Times in the UK, with his three oldest siblings receive $1.1 billion each for their shares in the business.

The deal ends a sometimes bitter legal battle between Murdoch’s oldest children for control of their 94-year-old father’s business. It also conserves the media company’s conservative bent; Lachlan Murdoch is regarded as the most conservative of Murdoch’s oldest children.

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Under the agreement, Prudence MacLeod, Elisabeth Murdoch and James Murdoch will be the beneficiaries of a trust that will house the proceeds of the sale.

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Lachlan Murdoch is the current chair of News Corp, the parent company of over two dozen publications including the Journal, The Times and the New York Post, after he succeeded his father in 2023.

“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. - Guardian