Lachlan Murdoch takes control of media empire after family ends legal battle over Fox, News Corp

Core Points - The Murdoch family has resolved the legal battle over control of its media empire, which includes Fox Corp. and News Corp, with Lachlan Murdoch maintaining control [1][3] - A new trust, LGC Holdco LLC, will be established for the benefit of Lachlan Murdoch and his sisters Grace and Chloe Murdoch [1][7] - Rupert Murdoch will continue as Chairman Emeritus of both companies [3][4] Financial Implications - Fox Corp. stock closed at an all-time high of $62.49, while News Corp shares closed at $29.94, just under its record high of $30.75 [5][11] - The value of the family stock in the trust has increased by 68%, amounting to $3.4 billion, since Lachlan Murdoch took control in 2019 [5] - The three older siblings will receive approximately $1.1 billion once the $3.3 billion deal closes within six months [8] Trust and Governance Changes - The older siblings, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, will no longer be beneficiaries in any trust holding shares in News Corp or Fox Corp [4] - The agreement includes a long-term standstill preventing the siblings from acquiring shares in Fox and News Corp [9] - The legal battle between Rupert and Lachlan Murdoch against the three older siblings will conclude as part of this agreement [9]