Murdoch Family Ends Legal Fight Over Trust, Granting Lachlan Murdoch Control Over Vast Media Holdings

The Murdoch family reached a settlement that cements Lachlan Murdoch’s control over its media empire, including Fox News and the Wall Street Journal, according to CNBC. The deal resolves the struggle over control of Murdoch Family Trust, one of the world’s most prominent media empires. Rupert Murdoch’s children James, Elizabeth, and Prudence will place their shares in a separate trust and sell their Fox and News Corp holdings over six months. A new trust will be created to benefit Lachlan, Grace, and Chloe Murdoch. The sale involves about 16.9 million Fox Class B shares and 14.2 million News Corp Class B shares, though financial terms were not disclosed.