The Murdoch family on Monday resolved the legal battle over control of its media empire, which includes Fox Corp. and News Corp, the company said.

Lachlan Murdoch — the executive chairman and CEO of Fox Corp. and chairman of News Corp — will maintain control of the media giant forged by his 94-year-old father, Rupert Murdoch.

Under the terms of the deal, a new trust called LGC Holdco LLC, will be established for the benefit of Lachlan Murdoch, and his younger sisters Grace and Chloe Murdoch. 4

Lachlan Murdoch will control all the votes in LGC Holdco, which will hold large stakes in Fox Corp., parent company of top-rated cable network Fox News, and News Corp — whose properties include the New York Post and the Wall Street Journal — once the deal is completed.

His older siblings

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