Overview

• Prudence, Elisabeth and James Murdoch will receive $1.1 billion each in exchange for giving up their stakes in the family trust.
• The existing trust will be dissolved and a new structure will lock Lachlan Murdoch’s voting control until 2050.
• News Corp’s board issued a statement welcoming the resolution and backing Lachlan Murdoch’s leadership.
• The agreement followed a Nevada setback in which probate commissioner Edmund Gorman labeled the prior trust-change effort “a carefully contrived sham.”
• Months of negotiations and extensive legal work produced a complex transaction using loans, holding companies and share transfers valued at roughly 80% of recent market prices.