For the 94-year-old Rupert Murdoch and his anointed 54-year-old son Lachlan, settling the media conglomerate’s multibillion-dollar succession plan was a desperate race against time.

In five years, or less, Rupert’s iron grip on his media empire’s future would be lost.

The media baron had declared his oldest male heir Lachlan as his successor, but his master plan was unravelling as three of his other children had different ideas. It was a gripping succession saga that has engrossed the world.

If Rupert Murdoch had died with the original trust in place, Elisabeth (top left), James and Prudence would likely have dethroned Lachlan (centre).Credit: Marija Ercegovac

And while a settlement has now been reached, it has come at both a financial and a personal cost to all.

It was that looming threat that ultimately forced a financial resolution to the gaping split between Murdoch senior and Lachlan in one corner and his three dissenting children – James, Elisabeth and Prudence – in the other.

In the end, the solution was simple. Rupert fired his most trusted munition: the money gun.

Now a new era in the history of the world’s most successful media empire has begun.

Arise, King Lachlan.

The deal will cement control........

© The Age