What happened
The family of media mogul Rupert Murdoch announced Monday they have resolved their yearslong battle over control of Fox News, The Wall Street Journal and other media properties. Under the terms of the deal, Murdoch's politically conservative son, Lachlan, will have sole control of the trust that controls the media empire after the 94-year-old patriarch's death, while Lachlan's siblings James, Elisabeth and Prudence will each receive payouts of about $1.1 billion.
Who said what
The Murdochs' "Shakespearean succession saga" began in earnest with "Rupert and Lachlan's audacious bid to unilaterally change" the terms of the family's "irrevocable trust" so the more politically moderate siblings couldn't shift the ideological bent of a "media empire that holds vast political sway across three continents," The New York Times said. Lachlan may have secured control, but really "both sides are getting what they wanted," as "Prue, Liz and James" were "eager to break" from the conservative dynasty and "are getting considerably more for their shares than Lachlan had been willing to pay" before they beat him in court.
What next?
The "real-life resolution" to the "family brawl" that inspired the HBO series "Succession" will preserve the "conservative tilt of Murdoch's media outlets," Reuters said, especially Fox News, which "continues to be the No. 1 U.S. cable news network." It's now clear "there will always be a conservative guardian of Fox News," Enders Analysis CEO Claire Enders said. "And frankly, if I were a shareholder, I would really think this was a very good move."
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