Murdoch family resolves trust dispute, James and sisters exit Fox

NEW YORK/LOS ANGELES - Fox Corporation (NASDAQ:FOXA, FOX), currently valued at $27.91 billion and showing strong market performance with a 51.35% return over the past year, announced Monday that the Murdoch family has resolved legal proceedings related to the Murdoch Family Trust, ending all litigation in Nevada. According to InvestingPro analysis, Fox currently trades near its 52-week high and appears slightly undervalued based on Fair Value calculations.

Under the settlement, Prudence MacLeod, Elisabeth Murdoch and James Murdoch will no longer be beneficiaries in any trust holding shares in Fox or News Corporation. New trusts will be established for Lachlan Murdoch, Grace Murdoch and Chloe Murdoch.

The departing beneficiaries will receive cash consideration funded partly through the public sale of approximately 16.9 million shares of Fox Class B common stock and 14.2 million shares of News Corporation Class B common stock previously held by the trust.

Following these transactions, LGC Holdco, LLC, owned by the remaining beneficiary trusts, will hold approximately 36.2% of Fox’s Class B common stock and 33.1% of News Corporation’s Class B common stock. The departing beneficiaries will sell their personal holdings in Fox and News Corporation within six months and will be subject to a long-term standstill agreement preventing them from acquiring shares in either company. Fox maintains strong financial health with a perfect Piotroski Score of 9 and trades at an attractive P/E ratio of 12.55.

Voting control of the shares owned by LGC Holdco will rest solely with Lachlan Murdoch through 2050. Rupert Murdoch will continue as Chairman Emeritus of Fox Corporation.

Fox’s board of directors expressed support for the resolution, noting the importance of Lachlan Murdoch’s leadership as CEO and Executive Chair to the company’s strategy and success.

This information is based on a press release statement from Fox Corporation.

In other recent news, Fox Corporation has launched its new streaming service, FOX One, providing both live and on-demand access to its news, sports, and entertainment content for a subscription price of $19.99 per month or $199.99 annually. The service, which began on August 21, targets approximately 65 million U.S. households outside the traditional cable ecosystem. Additionally, starting October 2, customers will have the option to bundle FOX One with ESPN DTC Unlimited for $39.99 monthly. In another development, Fox Corporation announced that its Executive Chair and CEO, Lachlan Murdoch, will participate in the Goldman Sachs Communacopia & Technology Conference on September 10. Murdoch is scheduled to speak at 10:10 a.m. Pacific time, as stated in a company press release. These recent developments highlight Fox Corporation’s efforts to expand its streaming services and engage with industry stakeholders.

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