Lachlan Murdoch, 52, gains sole control of a media group that has reshaped the media landscape across continents and radically altered politics in the UK, US and Australia. The move is the fulfillment of a promise first indicated in 2019, when the elder Murdoch named Lachlan as heir to his business.
"This is Lachlan's best chance to prove to investors and his family that he is the best option for the future," said David Folkenflik, NPR's media correspondent and author of Murdoch's World: The Last of the Old Media Empires. But he warned that it remained uncertain whether the successor could hold the empire together.
"Investors were willing to give a Rupert discount for years - but that was Rupert. Nobody puts that degree of faith in Lachlan, even as he's made some decent bets."
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