There goes any hope of the younger generation moderating Fox craziness, as the real-life “Succession” comes to a close. Via Variety:
The media sector’s prominent Murdoch family settled a long-running dispute Monday that will leave Lachlan Murdoch in control of voting shares that govern both News Corp. and Fox Corp. while selling off stakes in the company attached to founder Rupert Murdoch’s other children who had challenged their father’s ability to restructure his heirs’ oversight of both corporations.
Fox Corp. and News Corp. both said Monday that the family had terminated all litigation tied to the elder Murdoch’s efforts to assign control of the family’s shares to Lachlan, who currently oversees both corporations. Prudence MacLeod, Elisabeth Murdoch and James Murdoch, Rupert’s children who fought his efforts, will cease to be beneficiaries in any of the family’s holding trusts in the conglomerates.
The maneuvers would appear to cement Rupert Murdoch’s desire to maintain the conservative leanings of his media empire, particularly at Fox News, which has become the economic linchpin of Fox Corp. James Murdoch and Elisabeth Murdoch have been known to hold different political views than Lachlan, with James notably contributing to causes that are not in keeping with the opinions espoused on the cable network.
