After succession deal, Lachlan Murdoch takes control, siblings get cash

The Murdoch family has reached a deal that will see Rupert Murdoch's politically conservative eldest son Lachlan Murdoch cement control of the family media empire that includes Fox News and the Wall Street Journal.

- JIM RUTENBERG & JONATHAN MAHLER

The agreement, announced on Monday, ends a family brawl over who will control one of the most high-profile global media groups and puts to rest questions of succession within the Murdoch family after its patriarch's death.

The drama is considered to be one of the inspirations for the television series 'Succession', about the infighting of the members of a media dynasty. Its real-life resolution preserves the conservative tilt of Murdoch's media outlets.

Under the deal, Rupert's children James Murdoch, Elisabeth Murdoch and Prudence MacLeod are each expected to receive about $1.1 billion in proceeds, according to a source.

They agreed to sell their personal holdings in Fox and News Corp over a period of six months, according to the announcement.