Rupert Murdoch's son will take over the family's media empire when he dies, putting an end to a Succession-style battle for power.
In a deal worth $3.3 billion (£2.4bn), Lachlan, 54, will assume control of publications including The Sun, The Times, The Sunday Times and Talk TV in the UK, as well as Fox News, The New York Post and The Wall Street Journal in the US.
His three oldest siblings Prue, Liz and James will receive $1.1bn (£800m) for all their shares in the empire, the New York Times reports.
It comes months after Lachlan and his father's bold attempt to strike the trio out of the Murdoch family's irrevocable trust, a move which failed but ultimately opened up negotiations.
Rupert, 94, had reportedly dubbed this plan to tip the scales in favour of his eldest son, 'Project Harmony', but it caused a major rift in the clan.
