The eldest son Murdoch wins the battle of real succession

The Murdoch family has concluded an agreement that will see the politically conservative eldest son of Rupert Murdoch, Lachlan Murdoch, control of the cement of the family media Empire which includes Fox News and the Wall Street Journal.

The agreement, announced on Monday, puts an end to a family fight on which will control one of the most prominent world media groups and put the questions of succession of succession in the Murdoch family after the death of his patriarch.

The drama is considered one of the inspirations of the HBO television series SuccessionOn the intestine struggles of the members of a media dynasty. Its real resolution preserves the conservative inclination of the Murdoch media.

Under the agreement, the children of Rupert James Murdoch, Elisabeth Murdoch and Prudence Macleod will receive species from the sale of around 16.9 million Fox Class B voting shares and around 14.2 million ordinary class B shares of News Corp. The amount of payment has not been disclosed.

One source said each of the children should receive around $ 1.1 billion in product.

They agreed to sell their personal assets in Fox and News Corp over a period of six months, according to the announcement.

New confidence for the benefit of Lachlan and younger sisters

A new family trust will be created for the benefit of Lachlan Murdoch, and his young brothers and sisters Grace and Chloé Murdoch, who are the children of Rupert from his marriage to Wendi Deng Murdoch. This trust, worth around 3.3 billion dollars according to the source, will hold 36% of class B ordinary shares of Fox and 33% of class B shares of News CORP, companies said.

A battle on the World Television and Rupert Edition Empire took place last fall in a hearing room in Reno, Nev., Where a judge examined the disputed question of succession.

Murdoch, 94, tried to modify the terms of the family’s confidence, which was created after his 1999 divorce from his second wife, Anna, and holds important participations in Fox News Parent Fox Corp and the owner of the Wall Street Journal News News Corp.

Under the original trust, the voting actions of News Corp and Fox would have been transferred to the four oldest children in Murdoch – Prudence, Elisabeth, Lachlan and James – to her death.

Murdoch feared that three of his heirs, James, Elisabeth and prudence could set up a coup to oust Lachlan, who is executive president of Fox and president of News Corp.

Murdoch had proposed an amendment to the trust which would block all interference of the brothers and sisters of Lachlan, who are more politically moderate, according to the New York Times, who obtained a sealed court document detailing the succession drama.

A renovation court Reno rejected this plan in December, saying that Rupert and Lachlan had acted in “bad faith” by trying to modify irrevocable confidence. This decision has created a new opening for settlement talks, according to the source.

Fox News continues to be the number 1 of the Cable News Network, playing an influential role in American politics, especially among the Republicans who write its conservative audience.

“You know that there will always be a conservative tutor of Fox News. And frankly, if I was a shareholder. I really think it was a very good decision,” said Claire Enders, CEO and founder of the media research company based in the United Kingdom, Enders Analysis.

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