Good Monday afternoon. Today's newsletter, edited by Sam Baker, is 682 words, a 2-min. read. Thanks to Amy Stern for copy editing.

⚡ Bulletin: Lachlan Murdoch will take control of a new family trust in a deal worth $3.3 billion, ensuring his father's media empire — including Fox News, the New York Post and The Wall Street Journal — will retain its conservative slant, The N.Y. Times' Jim Rutenberg and Jonathan Mahler report.

• "The agreement gives the 94-year-old Rupert, who built a single Australian newspaper into the world's most powerful media empire, what he has long sought — to preserve what he has called the 'protector of the conservative voice in the English-speaking world' under the leadership of his chosen heir, Lachlan," the Times adds. Go deeper ... What Lachlan controls (gift links).

Jeffrey Epstein's estate has given Congress a copy of a happy-birthday letter bearing President Trump's signature, House Democrats said today.

• Trump had said the document didn't exist.

Democrats on the House Oversight Committee posted an image of the letter on X this afternoon. "More soon," tweeted Rep. Robert Garcia (D-Calif.), the top Democrat on the panel.

• White House Press Secretary Karoline Leavitt responded on X: "As I have said all along, it's very clear President Trump did not draw this picture, and he did not sign it. President Trump's legal team will continue to aggressively pursue litigation. ... This is FAKE NEWS to perpetuate the Democrat Epstein Hoax!"