Critic
Lachlan Murdoch’s Real-Life ‘Succession’ Drama
- Merger of Fox and News Corp. could consolidate his power
- Luxury life includes a $175 million yacht under construction
Lachlan Murdoch summoned the business leaders of Fox Corp. and News Corp. to Chartwell, his $150 million Los Angeles estate, for a rare meeting in February.
While his father Rupert Murdoch, the billionaire co-chairman of both businesses, preferred to let his executives compete against each other, his eldest son had a different plan. The companies needed an empire-wide initiative to tackle Web 3.0, a more decentralized internet that could have a big impact on Murdoch outlets like Fox News and the Wall Street Journal.