Overview

• News Corp and Fox said a new vehicle, LGC Holdco, will hold the former family-trust stakes with voting power exercised solely by Lachlan Murdoch through his appointed managing director.
• Prudence MacLeod, Elisabeth Murdoch and James Murdoch will exit the businesses by selling their personal holdings over six months and are expected to receive about $1.1 billion each, according to multiple reports.
• Proceeds to fund the settlement include sales of roughly 16.9 million Fox Class B shares and about 14.2 million News Corp Class B shares, with the family retaining voting shares.
• The agreement ends the Nevada probate fight over the old trust, which drew a 2024 finding that Rupert and Lachlan acted in “bad faith,” and all related litigation has been dropped.
• Rupert Murdoch remains chairman emeritus, Grace and Chloe Murdoch are beneficiaries of the new trust, and the departing siblings lose beneficiary status with restrictions reported on future share purchases.