At 94, Rupert Murdoch has finally achieved his succession plan.

The media mogul has secured a deal to have his son Lachlan take complete control of his empire once he dies, following a financial deal with his three older children, Prudence, Elisabeth and James.

Today, journalist Paddy Manning, author of The Successor, the first unauthorised biography of Lachlan Murdoch, on the deal and what it means for the media landscape.

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Paddy Manning, journalist