Rupert Murdoch’s real-life ‘Succession’ battle just ended in a multibillion-dollar deal that keeps Fox News, Wall Street Journal conservative

Core Points - A legal battle involving Rupert Murdoch has concluded with a multibillion-dollar settlement, transferring control of Fox News and The Wall Street Journal to his son Lachlan Murdoch [1][2] - The settlement restructures the Murdoch Family Trust, changing the voting control from equal shares among Rupert's children to Lachlan having majority control [3][4] - Lachlan Murdoch will remain as chairman and CEO of Fox Corporation, while Rupert will take on a ceremonial role as chairman emeritus [4] - Other siblings, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, will exit the trust and receive substantial cash payouts, totaling approximately $1.1 billion each [5][6] - The total value of the settlement is reported to be $3.3 billion, with proceeds coming from the sale of Fox Corporation and News Corp shares [6] - The remaining assets of the old trust will be allocated to new trusts benefiting Lachlan Murdoch and Rupert's youngest daughters, Grace and Chloe [7]