The blockbuster war in the Murdoch family over the future direction of News Corp and Fox Corporation has been settled, after Rupert Murdoch agreed to sell billions in shares and give them to three of his children in exchange for Lachlan Murdoch retaining control.

In a statement released on Tuesday morning, News Corp announced a long-running legal dispute over the Murdoch Family Trust had been resolved. Rupert and Lachlan had attempted to change the terms of the family trust that gave four of his children – Lachlan, Prudence MacLeod, Elisabeth and James – equal voting rights when he died. Loading...

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