The Murdoch family has reached a deal that will see Rupert Murdoch’s politically conservative son Lachlan Murdoch cement control of the family media empire which includes Fox News and the Wall Street Journal.

The deal ends a battle over who will control one of the highest-profile global media groups.

The family will create a separate trust for Rupert’s children James Murdoch, Elisabeth Murdoch and Prudence MacLeod, who will sell their personal holdings in Fox and News Corp over a period of six months.

Fox Corp says it has reached a mutual resolution on the legal proceedings related to the Murdoch Family Trust, resulting in the termination of all litigation.

A new family trust will be established to benefit Lachlan Murdoch, Grace Murdoch and Chloe Murdoch.

The Murdoch children will be

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