The Murdochs have 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 assets including 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 has been reached, resulting in the termination of all litigation, and a severing of ties with three of Murdoch’s children.

Lachlan and Rupert Murdoch are “very pleased” with the deal, which was finalised in New York, said a source with direct knowledge of the negotiations, but not authorised to speak publicly. As a result, a new family trust will be created, benefiting Lachlan

See Full Page