Sept. 9 (UPI) -- Rupert Murdoch's children reached a deal to settle ownership of his media empire.
Under an agreement, Lachlan Murdoch, the oldest Murdoch son and the current chair of News Corp, the parent company of Fox News, The New York Post and The Wall Street Journal among other media outlets, will stay in control of its operations, as revealed in a press release on Monday.
He took the company's reins in 2023 after his now 94-year-old father stepped down.
The deal also ends the possession of any shares by his siblings, Prudence MacLeod, Elisabeth Murdoch and James Murdoch, in either News Corp or Fox, who will receive cash from the sale of around 14 million shares of News Corp stock and about 17 million shares of Fox stock.
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