Lachlan Murdoch has succeeded in taking unassailable control of the media empire his father Rupert built over a spectacular 70-year career, setting the scene for his own children to take the reins down the track should they choose to enter the business.

In a complex settlement deal reported by the New York Times on Monday, Atlantic time, and announced by both Fox and News Corporation, Lachlan's disaffected siblings — older sisters Prudence and Elisabeth, and younger brother James — will sell their stake in the empire for roughly US$3.3 billion combined and have no further share or involvement in either company under a long-term standstill agreement.

The deal secures Rupert Murdoch's legacy as the founder of the world's most powerful conservative media empire, and ensures that like-minded

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