Lachlan Murdoch will have control of the Murdoch media empire after his father Rupert's passing, according to a $5 billion settlement reached with his siblings.

Reno

Lachlan Murdoch is set to retain sole control over the Murdoch family media empire following the finalisation of a new deal regarding the family trust. Under the agreement, Lachlan and the two youngest siblings, Grace and Chloe, remain beneficiaries, but only Lachlan holds voting power. Prudence McLeod, Elizabeth Murdoch, and James Murdoch will leave the trust, each receiving a payout of approximately $1.6 billion AUD for their shares.

The decision comes after previous attempts to alter the trust failed and follows years of public disagreement among the siblings, particularly between Lachlan and James Murdoch. News Corp's board has expressed support for Lachlan's continued leadership, though reports suggest that family tensions are likely to persist.

Lachlan Murdoch to gain full control of Murdoch empire

real-life succession battle with a multi-billion dollar finale. Lachlan Murdoch, the eldest son of media mogul Rupert, will retain sole control over the family empire when his father dies. It means that his legacy lives on. It means the company remains in family hands and, most importantly to him, the conservative bent of the content and the journalism that it produces does not change. In recent years, the Murdoch family unit fractured as the siblings bickered. James Murdoch publicly criticised his father and his political views. And actually, in an interview earlier this year in The Atlantic, not only did he call his father a misogynist, he said Fox News was a menace to democracy. The succession saga inspired a hit HBO drama series. Disagreeing with Dad is not treason. Do you want this enough to go to war with your family? The masterfully scripted series was art imitating life And last year, the Murdochs had an ununified court reunion in Nevada as Rupert and Lachlan tried to change the Murdoch family trust, giving full control to the eldest son. The bid failed and then began the next phase, the negotiating table. In the newly finalised deal, Lachlan and the two youngest Murdoch siblings, Grace and Chloe, all remain beneficiaries of the Murdoch family trust, but only Lachlan maintains voting power. Prudence McLeod, Elizabeth Murdoch and James Murdoch will depart the trust, receiving a hefty payout for their share, amounting to roughly $1.6 billion Aussie dollars each. News Corp's board of directors says it 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. If anyone thinks that today's decision means it's happy families at Christmas this year, it is not. This feud will continue on for some years. Steph Baumgartel, 10 News.

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