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News Corporation (ASX:NWS)

ALERT: Price-sensitive ASX Announcement for NWS
Current share price for NWS : $44.620 -6.35 (-12.46%)+
Announcement
Release
9 Sep 2025 8:19AM
Price at Release
$50.970
Full Release
download
Summary
On September 8, 2025, News Corporation announced a resolution concerning the Murdoch Family Trust (MFT) litigation in Nevada. The resolution involves the establishment of new trusts for Lachlan, Grace, and Chloe Murdoch, while Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, referred to as the 'Departing Beneficiaries', will no longer be beneficiaries of any trust holding shares in News Corp or Fox Corporation. The Departing Beneficiaries' trusts plan to offer approximately 14.2 million shares of Class B common stock in a public offering, from which they will receive all proceedings. News Corp is not selling any shares nor receiving any proceeds from this offering. Following these transactions, LGC Holdco, LLC, owned by the new beneficiary trusts, will hold a significant portion of News Corp's shares. Additionally, a long-term standstill agreement restricts the Departing Beneficiaries from future acquisitions in News Corp and Fox Corporation. Lachlan Murdoch will maintain voting control over the shares through LGC Holdco. The board of News Corp supports these developments, viewing Lachlan Murdoch’s leadership as crucial to the company's future strategy and success.
Key Points
  • Resolution reached for Murdoch Family Trust litigation.
  • New trusts for Lachlan, Grace, and Chloe Murdoch established.
  • Departing Beneficiaries will no longer be part of the Murdoch Family Trust.
  • Public offering for 14.2 million Class B shares planned.
  • News Corp retains no proceeds or involvement in the sale.
  • LGC Holdco to own a significant portion of News Corp shares.
  • Long-term standstill agreement for Departing Beneficiaries.
  • Lachlan Murdoch retains voting control.
  • Board of directors supports Lachlan Murdoch's leadership.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.