Murdoch Family Resolves Succession Dispute

“Rupert Murdoch’s chosen son Lachlan will remain in charge of the family business, forestalling a predicted challenge from his siblings over the political bent of the conservative media empire,” CNN reports.

“Instead, three siblings are exiting the business altogether — in an ending worthy of a dramatic series finale.”

“The companies said that the Murdoch family’s existing trust setup is being replaced. Prudence MacLeod, Elisabeth Murdoch and James Murdoch, described in legal filings as the ‘departing members,’ will receive about $1 billion each for their shares.”