Good day. Here are our top stories:
Murdoch’s real-life “Succession” ends with a $3.3B deal, cementing son Lachlan as the sole heir to the conservative media empire.
Israel sharply escalates its war with Hamas by striking the group's political leadership in Qatar for the first time, rattling markets and jeopardizing ceasefire talks.
SpaceX makes a $17B bet on mobile by acquiring EchoStar's spectrum, aiming to supercharge Starlink's satellite-to-phone capabilities and bypass partners like T-Mobile.
Eldest son, Lachlan, secures the Empire.
Murdoch's Endgame 👑
Rupert Murdoch has sealed a $3.3 billion deal to buy out three of his children, ending a bitter family feud and cementing his eldest son, Lachlan, as the heir to his conservative media empire.
Why it matters: This move ensures that influential outlets like Fox News, The Wall Street Journal, and The Sun will maintain their right-leaning political direction under Lachlan. The resolution puts a decisive end to speculation that son James Murdoch might one day take over and shift the outlets' ideology.
For Rupert, the deal secures the future of a global news empire that has influenced politicians in the U.S., U.K., and Australia for four decades.
Fox News has become the dominant media outlet for the American right.
By the numbers:
$3.3B: The total value of the succession deal.
$1.1B: The amount James, Elisabeth, and Prudence Murdoch will each receive.
Context: The multibillion-dollar payout resolves a family drama that has captivated media circles for decades and even helped inspire HBO's Succession:
The unstable arrangement dated back almost 30 years to Rupert's divorce from Anna Torv. The trust established then gave their four eldest children equal voting rights after his death.
A Nevada commissioner denied Murdoch's bid last year, leaving the other children feeling blindsided and resentful.
The bottom line: Lachlan is now the anointed heir, securing his control when Rupert Murdoch dies.
Israel's military has announced that it carried out an airstrike targeting Hamas leaders
💥 Israel Strikes Hamas... in Qatar
Why it matters: Israel has sharply escalated its war against Hamas, striking the Palestinian militant group's political leadership in the Gulf state of Qatar for the first time.
The attack hits a key US ally and central mediator in the Gaza war, threatening to upend delicate ceasefire talks and shatter regional security.
Driving the News: Residents in Doha reported hearing multiple explosions on Tuesday.
Israel's government stated it had conducted a "precise strike targeting the senior leadership of the Hamas terrorist organisation" in Qatar.
Qatar condemned the "cowardly attack", stating the strike targeted a residential building that housed members of Hamas's political bureau.
It was not immediately clear whether any Hamas figures were killed in the strikes.
⏪ Context: This is the latest in a series of Israeli strikes targeting Hamas leadership abroad.
Israel previously assassinated Hamas's political leader Ismail Haniyeh in an attack in Tehran in July 2024.
The Bottom Line: 📈 The attack immediately rattled markets, with Brent crude oil prices ticking higher by 1.3% to almost $67 a barrel. The strikes came just as mediators believed they were making progress towards a ceasefire and hostage release deal.
SpaceX is acquiring EchoStar's prized spectrum for $17 billion
SpaceX's Big Bet on Mobile
In a move poised to shake up the mobile connectivity landscape, SpaceX is acquiring EchoStar's prized spectrum for $17 billion, a deal that will supercharge Starlink's direct-to-device capabilities.
Why it Matters: This strategic acquisition allows SpaceX to bypass previous partnerships, like the one with T-Mobile, and forge its own path in providing satellite-to-phone and mobile-to-mobile communication.
The Big Picture: Facing potential bankruptcy and an FCC investigation, the sale provides a much-needed financial lifeline for EchoStar, allowing it to pay down debt.
However, it also means the company is shedding the very assets that could have made it a major competitor to giants like AT&T and Verizon.
T-Mobile's Tumble: The news sent T-Mobile's shares down, as it signals Starlink's newfound independence.
Starlink's Ascent: This deal solidifies Starlink's position as a major player in direct-to-consumer connectivity, especially in remote and underserved areas.
The Bottom Line: With this acquisition, SpaceX is not just a launch company anymore; it's a rapidly growing force in global connectivity.