Who is Lachlan Murdoch, the new head of Fox and News Corp?

The Murdoch family has reached a deal that will give Lachlan Murdoch, son of Rupert Murdoch, firm control over the family’s powerful media empire, which includes Fox News and The Wall Street Journal.

This agreement ends a long-running family dispute over who would inherit control of the business — a saga often compared to the TV show Succession, which was partly inspired by the Murdochs.

As part of the deal, Rupert Murdoch’s other children — James Murdoch, Elisabeth Murdoch, and Prudence MacLeod — will sell their personal stakes in Fox and News Corp within six months. Each is expected to receive about $1.1 billion (£810 million) from the sale.

Fox Corp announced on Monday that it had reached a “mutual resolution,” ending all legal proceedings related to the family dispute.

A new family trust will now be created for Lachlan Murdoch and his younger sisters, Grace and Chloe Murdoch, who are Rupert Murdoch’s daughters from his marriage to Wendi Deng Murdoch.

The struggle over succession even reached a Nevada courtroom last year, where a judge considered how control of the global television and publishing empire should be decided.

With this deal, Lachlan Murdoch will officially cement his role as leader of one of the world’s most influential media dynasties.