Murdoch family reaches deal to resolve succession fight over media empire

Family announces Rupert Murdoch’s eldest son, Lachlan Murdoch, will secure control of business

The succession battle at Rupert Murdoch’s media empire has ended.

The family announced on Monday that Lachlan Murdoch, Murdoch’s eldest son, will secure control of the Murdochs’ sprawling media empire that includes Fox News, The Wall Street Journal and The Times in the UK, with his three oldest siblings receiving an estimated $1.1bn each for their shares in the business.