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."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The future of the Paris AgreementThe Explainer UN secretary general warns it is ‘inevitable’ the world will overshoot 1.5C target, but there is still time to change course
-
A scenic road trip in the French RivieraThe Week Recommends The mild climate of the Côte d’Azur makes it ideal for shoulder season
-
DC tourism has taken a hitUnder the Radar The government shutdown has reduced tourist attractions
-
Musk wins $1 trillion Tesla pay packageSpeed Read The package would expand his stake in the company to 25%
-
Starbucks workers are planning their ‘biggest strike’ everThe Explainer The union said 92% of its members voted to strike
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
Trump proposes ending quarterly earnings reportsSpeed Read The SEC would have to approve any changes
-
Why are global postal services cutting off package delivery to the US?Today's Big Question 'Uncertainty' around new tariff rules halts small-dollar imports
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
