The von Murdoch family has reached a deal in which Rupert Murdoch’s politically conservative eldest son Lachlan Murdoch, cement control of the family media empire, which includes Fox News and the Wall Street Journal, and the Wall Street Journal will be shown.
The agreement announced on Monday ends a family brawl that will control one of the highest global media groups and, after the patriarch’s death, succeeds the Murdoch family.
The drama is considered one of the inspirations for the HBO television series ConsequenceAbout the fights of the members of a media dynasty. His real resolution preserves the conservative inclination of Murdoch’s media.
As part of the deal, Rupert Kinder James Murdoch, Elisabeth Murdoch and Prudence Macleod receive cash from the sale of around 16.9 million shares of the FOX -Class -B voting professions and around 14.2 million shares in class B from News Corp. The amount of the payment was not announced.
A source said that each of the children will receive around 1.1 billion US dollars in the proceeds.
They agreed to sell their personal investments to Fox and News Corp over a period of six months, according to the announcement.
New trust in favor of Lachlan and younger sisters
A new family trust is created to benefit Lachlan Murdoch and his younger siblings Grace and Chloe Murdoch, who are Rupert’s children from his marriage to Wendi Deng Murdoch. This trust, which, according to the source, will hold around 3.3 billion US dollars worth 36 percent of the Fox and 33 percent of the FOX’s shares in FOX, according to the shares of the companies.
A fight for Rupert’s global television and publishing Empire played last autumn in a courtroom in Reno, Nevada, where a judge looked at the controversial matter of succession.
How Rupert Murdoch has changed the world
The 94 -year -old Murdoch tried to change the conditions for the trust of the family, which was founded by his second wife Anna in 1999 after his divorce, and has significant missions to Fox News Parent Fox Corp and Wall Street Journal Owner News Corp.
Under the original trust, the shares of the News Corp and the Fox Voting to Murdoch’s four oldest children – be careful, Elisabeth, Lachlan and James – would have been broadcast after his death.
Murdoch feared that three of his heirs, James, Elisabeth and Prudence, could raise a coup against Lachlan, which Fox and Chairman of News Corp. acted.
Murdoch had proposed a change in the trust, which, according to the New York Times, who received a sealed court document in which the following was described in detail, would block a interference by Lachlan’s siblings that are politically more moderately.
A probate court in Reno rejected this plan in December and said that Rupert and Lachlan had acted with “Bossian intent” to change the irrevocable trust. According to the source, this decision has created a new opening for settlement talks.
FOX News is still the No. 1 US cable news network and plays an influential role in US politics, especially among Republicans who evaluate his conservative audience.
“You know that there will always be a conservative guardian of Fox News. And frankly if I were a shareholder. I would really think that this was a very good step,” said Claire Enders, CEO and founder of the British media research company Enders.
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