Rupert Murdoch and his son Lachlan Murdoch (left) attend the quarterfinal match at the 2018 tennis U.S. Open. The younger Murdoch has secured control of the family empire in a succession deal reached this week.
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Now that the Murdoch succession drama has successfully played out, with patriarch Rupert Murdoch finally getting what he wanted (son Lachlan taking over), the next big question is how will the son’s ascension impact the conservative empire his dad has built.
The answer is probably not in any obvious way, at least not at first. While changes may come down the road, experts think Lachlan will likely stay the course in terms of business interests and the political bent.
That, after all, is one of the reasons Rupert wanted this son to succeed him so badly. His three other eldest children have more liberal outlooks, and the patriarch has worked hard to create a media empire whose holdings include several of the best-known right-leaning outlets in the world—Fox News Channel, The Wall Street Journal and The New York Post.
He likely won’t get any pushback from the board, which is largely there to ensure things keep running smoothly. The company is valued at $3.3 billion, so there’s quite a lot to protect.
“One of the board’s principal responsibilities is deciding who runs the company. Typically, the board would play a key role in ascension,” says James “Jim” Drury III, founder, chairman and CEO at JamesDruryPartners, a board-focused management consulting firm. “The move shores up any lingering questions of business continuity and control.”
Murdoch Succession Raises Questions About Media Empire’s Future
Murdoch has been quoted as telling his family that his media properties are the “protector of the conservative voice in the English-speaking world.” So it’s little wonder he has been fighting a court battle to ensure Lachlan is the one leading them.
Lachlan returned to the family business a few years ago and was named chairman of the boards of News Corp. and Fox News in 2023, nearly two decades after he exited his father’s business to return to Australia.
He has quite a bit of experience with the teams now in place at both companies. And he has supported the conservative voice at all the major publications. The boards will likely continue to feel comfortable with him after his initial succession as chairman (Rupert didn’t step away entirely, continuing to provide counsel to his son).
“In this matter, the board likely considered a broad range of variables, from the potential for business disruption and legal exposure to how the change in leadership might impact advertiser durability and audience trust,” Drury says of the Murdoch succession. “It will now be Lachlan and his executive team who determine the strategic direction of the various businesses under the Murdoch umbrella, including Fox News, the Post and the Wall Street Journal. The board will continue to provide oversight, but should be ‘nose in, fingers out’ when it comes to business operations and decision-making.”