A foundation will ensure that Fox will be controlled by Lachlan Murdoch, who has already controlled the company in recent years, and his younger sisters Grace and Chloe. This means that Fox News will be controlled in the direction that it was previously intended.
Lachlan's three older siblings will thus relinquish control of the company in exchange for shares valued at 3.3 billion dollars, equivalent to just over 30 billion kronor, according to The New York Times.
The foundation will be in operation until 2050, according to the agreement.
Rupert Murdoch also owns The Wall Street Journal, and recently, US President Donald Trump sued the newspaper and the owner for nearly 100 billion kronor because they published a "dirty" letter that Trump, according to the newspaper, sent to the now deceased financier Jeffrey Epstein on his 50th birthday, 2003.
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