Rivalries and Rumours: The New Order of the Murdoch Dynasty Unfolds
Christmas is typically a time for families to gather, and until this year, the Murdoch clan followed that tradition—though full family reunions have long been rare. According to biographer Michael Wolff, the family spent Christmas together in 2008 aboard a fleet of private yachts. Recently, however, it has often been Rupert, the powerful media mogul, and his daughter Elisabeth who have managed to find time for each other. This year, Elisabeth certainly had space to welcome her father at her newly renovated luxury home in the Cotswolds. However, after a tumultuous court battle in Nevada, resulting in an agreement that excluded Elisabeth and two of her siblings from the family business, relations are likely too strained for even a familial peacemaker to propose decorating the Christmas tree together.
The Schism Among the Siblings
– Rupert Murdoch’s eldest child, Elisabeth, has become the co-founder and executive chairman of the production company Sister, known for hit shows such as Black Doves and The Split. Friends describe her as intelligent, hard-working, and fiercely loyal, though this year has been testing for family ties.
– Despite each of them being about a billion dollars richer, James, Elisabeth, and Prudence Murdoch grapple with the emotional fallout from their father’s ruthless business decisions.
The Murdoch family has never adhered to traditional norms, prompting speculation that their story inspired the power struggles depicted in the acclaimed TV drama Succession. Yet, this rift feels irrevocable. As one observer remarked, the show’s conclusion—featuring Logan Roy’s demise—came too early; the real drama was just beginning.
James Murdoch: A Fractured Relationship
James Murdoch’s ties with his father and older brother Lachlan seem irreparable. Earlier this year, he labeled Rupert a misogynist in The Atlantic and criticized his courtroom behavior as twisted. This sense of betrayal intensified when Rupert forced James, Elisabeth, and Prudence to sever ties with Fox Corp and News Corp, motivated by fears that their more progressive ideologies might alter his legacy.
– The trust established in 1999, which provided equal control to Rupert’s four oldest children posthumously, came under threat as Rupert sought to change its terms. After a ruling against him for bad faith, an eventual settlement emerged: James, Elisabeth, and Prudence would sell their shares and relinquish future claims on the family firm.
– Claire Atkinson, author of an upcoming biography on Rupert, expressed the sorrow of the situation, noting they were told effectively, Don’t let the door hit you on the way out.
Lachlan Murdoch has now taken the helm, previously chosen by Rupert, securing his position as the sole successor following their father’s passing.
Corporate Dynamics Amidst Family Tension
Despite the tensions, Lachlan’s rise as CEO of Fox Corp has been marked by impressive performance, with the company’s share prices doubling, aided by the ratings surge during Donald Trump’s presidency. However, this financial success came at a cost:
– He faced increased payouts to his siblings to finalize the settlement, which has led observers like Atkinson to declare, There is a fracture in the company and a fracture in the family.
A Path Forward: Split Loyalties and Aging Leadership
As Rupert Murdoch turned 94, Elisabeth and Prudence reportedly focused on moving past the family dispute. They recognize that time with their father is finite, yet reconciliation may still be a distant goal.
– Lachlan, working from his Sydney home, hosted a party for elite Australians this month. Even though Fox Corp operates primarily in the U.S., Lachlan values the relaxed Australian lifestyle, despite the challenges posed by time zone differences.
Lachlan’s Leadership Strategy
Under Lachlan’s management, strategies have pivoted towards digital innovation and streaming services, notably with the ad-supported platform, Tubi. While Rupert continues to wield influence—evidenced by invitations to high-profile events—Lachlan’s leadership aims to steer the company economically rather than politically.
Importantly, analysts emphasize that Lachlan’s decisions appear primarily financially motivated, diverging from Rupert’s historically more interventionist approach. Yet, the significant debt incurred to settle family divisions may pressure Lachlan towards sensationalistic journalism, a tactic historically proven profitable in the media landscape.
The Legacy of Divisions
Current perceptions indicate that, despite Lachlan’s efforts, the family’s bond remains deeply divided. With Rupert Murdoch still active in the company, many speculate about the future direction of the Murdoch dynasty.
Anna Murdoch, Rupert’s first wife, foresaw such conflicts decades ago, cautioning about the adverse impacts of parental power on sibling relationships. Her novel Family Business highlighted the struggles of children caught in competitive familial dynamics.
As the dust settles on the recent fallout, the once-unified vision of the Murdoch family now appears forever altered, blending a rich legacy with stark rivalries and lingering questions about the path ahead for both the family and the company.