Murdoch Family Settles Battle Over Trust
Rupert Murdoch has reached a deal with his children that will pass control of his media assets to his eldest son, Lachlan.
2 min
The Murdoch family has reached a deal to end its yearslong battle over control of its media empire.
Lachlan Murdoch is set to take control of his father’s media assets as part of an agreement announced Monday between the patriarch and his children. Lachlan will control all the votes in a new trust that will hold sizable stakes in Fox Corp. and News Corp once the deal is completed.
The Murdoch trust, which currently holds roughly 40% voting stakes in Fox and Wall Street Journal parent News Corp, was initially designed to give each of his four oldest children an equal voting share.
As part of the settlement announced Monday, Rupert Murdoch’s children James, Elisabeth and Prudence will give up their claims to the existing trust. They will instead receive new trusts with cash funded in part by sales of some of the existing trust’s Fox and News Corp stock.
The three children will also be subject to a long-term agreement preventing them from buying shares in the companies.
Fox and News Corp shares fell slightly in after market trading.
The new agreement caps a tumultuous succession drama atop media companies whose holdings include cable giant Fox News, major newspapers in the U.S., U.K. and Australia; digital real-estate companies and HarperCollins Publishers. It also brings to a close a conflict that potentially threatened the futures of both News Corp and Fox Corp.
Murdoch, 94 years old, had sought to amend the family trust to put control in the hands of Lachlan. James, Elisabeth and Prudence opposed the change.
Fred Greaves/Reuters
An acrimonious family battle has played out largely behind closed doors and in sealed court proceedings in recent years. Last December, a Nevada probate commissioner ruled against Murdoch’s efforts to amend terms of the trust and give control to Lachlan.
Murdoch sought the change, in part , because Lachlan is the one most aligned with his conservative political views as well as the best manager to run the companies.
New trusts will also be created for Lachlan, who is executive chair and chief executive officer of Fox Corp. and chair of News Corp, as well as the two children that Rupert Murdoch had with Wendi Deng. Grace and Chloe Murdoch are beneficiaries of the original trust .
A holding company owned by Lachlan, Grace and Chloe Murdoch’s new trusts will control about 36% of Fox and 33% of News Corp.
Rupert and Lachlan Murdoch had no comment beyond the announcement. A spokesman for Elisabeth Murdoch and Prudence MacLeod declined to comment. Deng and a representative for James Murdoch couldn’t be reached for comment.
A spokesman for Anna dePeyster, mother of Elisabeth, James and Lachlan, declined to comment.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
Victorian auction buyers will soon receive a piece of information that has traditionally been withheld until bidding reaches it: the vendor’s reserve price. Under new property-sale and underquoting laws, agents must publish the agreed reserve at least seven days before an auction or fixed-date sale. Most changes begin on 1 October 2026 and apply to …
Continue reading “Victoria’s New Auction Rules Will Force Reserve Prices Into the Open”
Four decks, 34.5 metres and a made-to-measure interior: step aboard the new Custom Line Navetta 35, unveiled at Cannes.
The ASX 200 rose about 0.27% as energy and materials advanced. Woodside and gold miners gained while financials and technology weakened.
2 min
The Australian sharemarket rebounded from its lowest close in three months on Wednesday, with energy and materials companies leading a cautious recovery.
The S&P/ASX 200 finished approximately 23 points, or 0.27 per cent, higher at 8,695.6 on 16 September. A second data source placed the closing index at 8,696.5, up 24 points or 0.28 per cent. The official close should be confirmed through a licensed feed before publication.
The broader All Ordinaries added 25.2 points, or 0.28 per cent, to 8,874.5.
Energy was the strongest sector, rising 2.19 per cent as Australian producers reflected the previous overnight increase in global oil prices. Woodside gained 2.84 per cent. Brent had settled near US$108.75 a barrel before the local session, although it later traded around US$107.68.
Materials advanced 1.28 per cent and provided the largest positive contribution to the index. Gold producers featured prominently among the strongest stocks, with Pantoro rising 9.3 per cent and St Barbara gaining 8.18 per cent. BCI Minerals added 7.48 per cent.
Financials fell 0.37 per cent, detracting from the benchmark despite earlier strength. Rate expectations remained a significant influence after Westpac joined the other major banks in forecasting a possible Reserve Bank increase in November. Higher rates can expand bank margins in some circumstances but also raise funding costs and increase the risk of loan stress and slower credit growth.
Technology remained weak. Life360 declined 5.46 per cent, while healthcare names that had rallied during Tuesday’s sell-off gave back ground. 4DMedical lost 5.35 per cent and Telix Pharmaceuticals fell 4.96 per cent.
James Hardie dropped 5.23 per cent. Codan moved against the weaker technology tone, gaining 7.51 per cent.
The session produced positive breadth, with more advancers than decliners among the largest 250 stocks, but the broader backdrop remains unsettled. Oil prices have revived inflation concerns, bond yields are elevated and investors are assessing the prospect of further monetary tightening in Australia and the United States.
The rebound therefore recovered only part of Tuesday’s 0.9 per cent decline. For Thursday, investors will be watching overnight central-bank developments, energy markets and whether gains can broaden beyond resources.
Market dashboard — 16 September 2026
S&P/ASX 200* Approximately 8,695.6, up 23.1 points or 0.27 per cent; verify the official closing print
All Ordinaries: 8,874.5, up 25.2 points or 0.28 per cent
Best-performing sector: Energy, up 2.19 per cent
Materials: Up 1.28 per cent
Weak sector: Financials, down 0.37 per cent
Leading mover: Pantoro, up 9.30 per cent
Notable large-cap mover: Woodside, up 2.84 per cent
Notable loser: Sunrise Energy Metals, down 6.22 per cent
Life360: Down 5.46 per cent
Australian dollar: About US71.3 cents in the preceding market snapshot
Gold: Approximately US$4,375 an ounce in the afternoon snapshot
Brent crude: Approximately US$107.68 a barrel in the afternoon snapshot
Following the successful launch of its Palais Collection, MAISON de SABRÉ has unveiled a new modular handbag system offering more than 720 styling combinations.
On October 2, acclaimed chef Dan Arnold will host an exclusive evening, unveiling a Michelin-inspired menu in a rare masterclass of food, storytelling and flavour.
