Murdoch Family Reaches Deal Over Control of Fox and News Corp

Lachlan Murdoch is expected to retain sole voting rights over a significant portion of shares.

Lachlan Murdoch (L) and Rupert Murdoch (R) at the TIME 100 Gala, celebrating the 100 most influential people in the world, at the Frederick P. Rose Hall, Time Warner Center, in New York, on April 21, 2015. Evan Agostini/Invision/AP

The family of media mogul News Corp founder Rupert Murdoch has reached a deal yielding control of his media conglomerate’s assets to his son, Lachlan Murdoch.

Lachlan and his siblings had been embroiled in a Nevada court battle, which has been terminated with the latest deal, News Corp said in a press release on Sept. 8.