Murdoch family settles legal dispute over media empire control ...Middle East

News Corp and Fox Corporation jointly confirmed the resolution on Monday following prolonged litigation among the media dynasty’s heirs.

A Nevada court had initially blocked Murdoch’s succession plan before the parties reached this new agreement.

Prudence MacLeod, Elisabeth Murdoch and James Murdoch will receive cash payments based on equity sales under the agreement’s terms.

While eldest daughter Prudence maintained minimal business involvement, James and Elisabeth were known for their more centrist political stances.

Their corporate stable includes influential outlets like Fox News, The Wall Street Journal and numerous British and Australian media properties.

Rupert Murdoch and his two half-sisters were identified as “remaining beneficiary trusts” in the restructuring announcement.

The “departing beneficiaries” will completely exit all trusts holding shares in either News Corporation or Fox Corporation. – AFP

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