The Murdoch family has reached a deal cementing Lachlan Murdoch as the successor to the family empire, bringing an end to the decades-long battle against his siblings to control the media dynasty’s group which includes Fox News, the Wal l Street Journal and The Australian.

Statements from both News Corp and Fox Corp on Tuesday morning said a mutual resolution on the legal proceedings related to the Murdoch Family Trust was reached, resulting in the termination of all litigation, and a severing of ties with three of Murdoch’s children.

Statements from both News Corp and Fox Corp said a mutual resolution on the legal proceedings related to the Murdoch Family Trust was reached. Credit: AP

New family trusts will be established to benefit Lachlan Murdoch, Grace Murdoch and Chloe Mur

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