Who owns Fox News continues to be a question of significant interest as the Murdoch family maintains control through a family trust holding 39.6% ownership share in Fox Corporation. Rupert Murdoch serves as chairman emeritus while his son Lachlan Murdoch currently holds the positions of chairman and CEO.
The ownership structure of America’s most-watched cable news network has evolved significantly over the years, with recent legal developments adding complexity to the family’s control dynamics.
Fox Corporation: The Parent Company Structure
Fox News Channel operates as a wholly owned subsidiary of Fox Corporation, a publicly traded company trading under the symbols FOXA and FOX. Despite being publicly traded, the network’s direction remains firmly under Murdoch family control.
Current ownership data shows that Fox Corporation is owned by 78.62% institutional shareholders, 24.12% Fox insiders, and minimal retail investor participation. However, the family’s voting control extends far beyond their direct ownership percentage.
The Murdoch Family Trust: Key to Control
The cornerstone of Fox News ownership lies in the Murdoch family trust structure. The Murdoch trust currently holds around 40% of the voting stock in Fox and News Corp., which have market capitalizations of $24.7 billion and $16.5 billion respectively.
A trust operated by the Murdoch family and corporate insiders holds approximately 40% of all shares, giving the family control of the corporation through Fox’s dual-share system, with limited voting Class A shares and voting Class B shares.
Recent Leadership Changes and Future Succession
The ownership landscape shifted in late 2023 when Rupert Murdoch stepped down from his executive roles. Lachlan Murdoch has been the head of Fox News and News Corp since late last year, when his father stepped down.
The trust divides control of the company equally among four of Rupert Murdoch’s children — Prudence, Elisabeth, Lachlan and James — after he dies. This succession plan has created internal family tensions about the network’s future direction.
Key Points Summary
- Fox News is owned by Fox Corporation, a publicly traded company
- The Murdoch family controls Fox Corporation through a trust holding 39.6% ownership
- Lachlan Murdoch currently serves as chairman and CEO
- Four Murdoch children will inherit equal control upon Rupert Murdoch’s death
- Recent legal battles have emerged over potential changes to the trust structure
Legal Battles Over Trust Modifications
Recent developments have highlighted tensions within the Murdoch family regarding Fox News ownership. Rupert Murdoch’s attempt to change his family’s trust over Fox News media empire control was rejected by a Nevada probate court in December 2024.
Murdoch, the 93-year-old billionaire press baron, reportedly wants to alter the terms of an irrevocable trust so that his eldest son, Lachlan, inherits his throne and keeps control of prized assets such as Fox News and The Wall Street Journal. However, this effort faces opposition from other family members.
Financial Performance and Market Value
The network represents a significant portion of the Murdoch media empire’s value. Fox News, part of Fox Corp.’s $14 billion conservative news empire, is one slice of Lachlan Murdoch’s billion-dollar dynastic fortune.
CEO Lachlan Murdoch unveiled plans for a direct-to-consumer streamer to be launched by the end of the year to target consumers no longer embracing the traditional cable bundle. This strategic move indicates the family’s continued investment in expanding Fox News’ reach.
Who Owns Fox News: Looking Forward
The question of who owns Fox News remains tied to the Murdoch family’s complex trust structure and ongoing succession planning. When Rupert Murdoch dies, control of News Corp — including Fox News — goes equally to his four children, James, Lachlan, Prudence and Elisabeth.
This ownership structure ensures the network’s editorial direction and business strategy will continue under family control, though potential disagreements among siblings could influence future operations. The recent legal developments suggest the ownership question will remain dynamic as the family navigates succession challenges.
Understanding Fox News ownership provides insight into one of America’s most influential media properties and the family dynasty that continues to shape its direction in an evolving media landscape.