Why the Murdoch succession matters and what Lachlan now controls

Lachlan Murdoch (Courtesy: AFP file photo)

Lachlan Murdoch has secured control of the family’s dual media companies, Fox Corporation and News Corp, through a trust structure. His siblings Prue, Liz and James agreed to sell their shares for $1.1 billion each, ending a yearslong contest over Rupert Murdoch’s legacy. The consolidation leaves Lachlan as the single steward of assets that influence politics, culture and markets across continents, the New York Times reported.

Fox Corporation: The broadcast powerhouse

The crown jewel of the empire remains Fox Corporation, which reported $16 billion in annual revenues and $2.29 billion in net income in the fiscal year ending June 30. Its portfolio includes Fox News Media, Fox Sports, Fox Entertainment, affiliate contracts, and the rapidly growing streaming platform Tubi. Fox News, the most watched US network in prime time, anchors the brand’s political influence. Fox Sports, meanwhile, has leveraged marquee events from the Super Bowl to the FIFA men’s World Cup, while Tubi recently surpassed 100 million monthly users.

New ventures in streaming and sports

The company is expanding its digital reach with new services. In June, Fox launched Fox One, a subscription streaming platform that bundles content from its broadcast and cable properties, and acquired Caliente TV in Mexico to strengthen its sports streaming foothold. Together, these moves show Lachlan’s intent to grow beyond traditional television into new, high-volume digital spaces.

News Corp: A diversified publishing empire

Alongside Fox sits News Corp, which generated $8.5 billion in revenue and $648 million in net income in the last fiscal year. Its portfolio includes Dow Jones and The Wall Street Journal, HarperCollins, The New York Post, The Times and The Sunday Times of Britain, The Sun, The Australian, and real estate platform Realtor.com. The mix of journalism, book publishing, and digital real estate creates a broad base of influence spanning finance, culture and housing markets.

The strength of Dow Jones and HarperCollins

Dow Jones remains a flagship, with The Wall Street Journal and specialized businesses like Risk & Compliance providing high-margin financial intelligence. HarperCollins, one of the world’s biggest publishers, posted $2.1 billion in revenue, its second-best year on record. These units position News Corp as a major voice in both news and culture. Even in a sluggish property market, Realtor.com delivered growth, aided by the acquisition of Zenlist to enhance agent-client connections.

What Lachlan controls now

Lachlan Murdoch’s authority spans television, newspapers, sports, publishing and digital platforms that reach hundreds of millions of people globally. From Fox News’s dominance in the US to The Times in Britain and The Australian at home, to streaming services like Tubi and real estate listings on Realtor.com, the empire is both diverse and highly profitable. With succession settled, the question shifts to how Lachlan will steer an empire that is equal parts political machine, cultural force and digital experiment.