Lachlan Murdoch takes charge of family's $24B media empire
Business
Lachlan Murdoch is officially stepping in as the new boss of his family's media empire, with the family's collective wealth estimated at $24 billion, following a big family agreement that finally settles who's in charge.
With this move, Lachlan gets voting control over Fox Corporation and News Corp all the way until 2050.
Siblings get $1.1B each for their stakes
Lachlan now holds the keys to huge brands like Fox News and The Wall Street Journal.
His siblings each get about $1.1 billion for their shares but won't have a say in running things.
Expect the company to stick with its conservative editorial style under Lachlan, much like his father Rupert did, as they keep hitting major milestones in the media world.