Rupert Murdoch, the towering billionaire behind Fox Corporation and News Corp, faces what may be the final and most contentious chapter of his storied career: the looming question of who will control his multibillion-dollar media empire after his death.
At 94, Murdoch’s declining health and recent legal battles have thrust his family’s succession drama into sharp public focus, a drama that could potentially end Fox News as a viable source of conservative news, according to a new report in Fortune magazine.
Add to the mix President Donald Trump’s open hostility to Murdoch and his media properties, including Fox and the Wall Street Journal.
On July 28, attorneys for former President Donald Trump filed an urgent motion in federal court to depose Murdoch in connection with Trump’s $10 billion defamation suit against the mogul and The Wall Street Journal.
The suit was the culmination of animosity between Trump and Murdoch that was ignited on election night in November 2020 when Fox News was the first major outlet to call Arizona for Joe Biden.
The projection — which came 20 minutes after polls closed and with the support of no other pollster — enraged Trump and his inner circle, who were intent on contesting the results.
To Trump, this call represented not just a journalistic decision but a betrayal by an ally he had helped elevate.
Trump’s ire extended beyond the network to Murdoch himself.
Trump’s $10 billion defamation lawsuit against Murdoch and The Wall Street Journal in 2025 marked an escalation in their feud.
The suit, which centered on reporting about Trump’s alleged correspondence with Jeffrey Epstein, intensified scrutiny of Murdoch’s health and the future of his media empire.
Trump’s lawyers have cited a series of health problems — including severe back injuries, seizures, atrial fibrillation, and a near-fatal collapse earlier this year — Trump’s lawyers argued Murdoch may not survive to testify at trial.
The filing intensified speculation over the stability of the media empire he built over seven decades.
At the center of the succession battle lies the Murdoch Family Trust, created in 1999 to control the family’s stakes in both Fox and News Corp.
The trust controls more than 40% of the voting power of both companies, effectively granting the family dominance through a dual-share structure.
Currently, Murdoch wields four votes, with his four eldest children — Lachlan, James, Elisabeth, and Prudence — holding one each.
Upon Murdoch’s death, his votes will be evenly distributed, giving each child two votes and equal say in the companies’ future.
Lachlan Murdoch, currently chair of News Corp and CEO of Fox Corporation, was positioned by his father as heir apparent following Rupert’s retirement in 2023. But that transition is far from settled.
Tensions escalated in 2023 when Rupert attempted to amend the trust to give Lachlan sole control after his death.
The move triggered legal challenges from his siblings, who argued it violated the trust’s principle of equal governance. A Nevada court sided against Rupert in December 2024, but an appeal remains pending.
The trust’s structure, coupled with its 2030 expiration date, sets the stage for a potential power struggle. Analysts warn that a deadlock among the siblings could paralyze corporate decision-making, unsettle shareholders, and even spark the dismantling of the Murdoch media empire.
Observers believe Lachlan’s siblings — particularly James Murdoch, known for his far left views — could unite to challenge his leadership.
James has previously criticized Fox and News Corp for "legitimizing disinformation" and resigned from the News Corp board in 2020 over editorial disagreements.
James and his wife Kathryn Murdoch have donated tens of millions of dollars to Democratic candidates, voting-rights organizations, and climate-focused political action committees.
In 2020, the couple gave more than $100 million to political causes that appeared to be linked to anti-Trump efforts.
Murdoch biographer Michael Wolff predicts a scenario in which James and his sisters could vote Lachlan out and sell key assets, including prestigious titles like The Wall Street Journal and The Times of London.
However, journalist Claire Atkinson suggests Lachlan’s strong financial performance might persuade his siblings to leave him in place.
As Murdoch’s health declines, the question of succession becomes urgent. Industry insiders agree: the fate of one of the world’s most influential media dynasties hinges not on corporate boards or market forces, but on whether four siblings can find common ground — or plunge their father’s empire into civil war.