Rupert Murdoch Reaches $3.3 Billion Settlement with Children

Rupert Murdoch (born Keith Rupert Murdoch, March 11, 1931) is an Australian-American former business magnate, investor, and media mogul who is widely regarded as one of the most influential figures in global media for the past half-century[3]. After inheriting a small Australian newspaper from his father in 1952, Murdoch rapidly expanded his holdings, acquiring provincial and metropolitan newspapers across Australia and New Zealand, and pioneering the modern tabloid format with an emphasis on sports, scandal, and eye-catching headlines[3]. His aggressive acquisition strategy extended internationally, with purchases of iconic British newspapers such as The News of the World, The Sun, and The Times, as well as significant American media assets including the New York Post, 20th Century Fox, Fox News, and The Wall Street Journal[4]. Murdoch’s business approach combined relentless ambition, shrewd dealmaking, and a keen sense of public sentiment, enabling him to build a media empire—News Corp—that spans television, print, and digital platforms across multiple continents[2]. His outlets have been credited with shaping political discourse, particularly in the English-speaking world, and have often courted controversy for their editorial stances and coverage[4]. Murdoch’s influence extended beyond business into politics, with his media properties frequently aligning with conservative causes and candidates, and his personal advocacy for issues such as the formation of an Australian republic[3]. In September 2023, Murdoch announced his retirement as chairman of both Fox Corporation and News Corp, stepping down after a 71-year career that saw him transform the media landscape[5]. His eldest son, Lachlan Murdoch, succeeded him as sole chair, following a highly publicized and at times contentious family succession process[4]. In September 2025, the Murdoch family finalized an agreement that ensured Lachlan’s control over the core media assets, resolving a bitter succession dispute that had threatened to divide the empire[4]. This arrangement secures the continuity of Murdoch’s legacy and the conservative editorial voice he championed[4]. Even in retirement, Murdoch remains a symbol of media power and dynastic ambition. His life and career are the subject of ongoing public fascination, with major biographies and analyses exploring his impact on journalism, politics, and culture[1][2]. While his direct operational role has ended, the structures he built and the debates he sparked continue to shape the global media environment.

Lachlan Murdoch, born on September 8, 1971, in London, is a prominent American and Australian businessman and media heir. He is the eldest son of media mogul Rupert Murdoch. Lachlan's early life was marked by an elite education, attending private schools in New York City and later graduating from Princeton University with a degree in philosophy in 1994[2][3]. Lachlan began his career at News Corp in 1994, rising through the ranks to become deputy chief operating officer. During his tenure, he was responsible for the company's U.S. television stations and publishing operations. He notably overhauled the *New York Post*, increasing its circulation by over 40% and making it the fastest-growing newspaper in the U.S. at the time[5][6]. However, his tenure was also marked by significant challenges, including a failed investment in the telecommunications company One.Tel, which collapsed in 2001[3]. In 2005, Lachlan left News Corp due to internal conflicts, including disputes with executives like Roger Ailes. He relocated to Australia, where he founded Illyria Pty, a private investment company. Through Illyria, he acquired and expanded NOVA Entertainment, transforming it into Australia's leading network of FM stations[5]. Lachlan returned to the family business in the mid-2010s, following a phone-hacking scandal involving News Corp's *News of the World*. Currently, Lachlan serves as executive chairman of NOVA Entertainment, chairman of News Corp, and executive chairman and CEO of Fox Corporation[1][6]. As of 2023, he was listed among Australia's wealthiest individuals, with an estimated wealth of A$3.35 billion[1]. Recently, Lachlan has been involved in a U.S. court case concerning the family trust, with his siblings challenging their father's plans to ensure Lachlan retains control of News Corp and Fox Corp[1].