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Murdoch family reaches succession agreement

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The Murdoch family has reached a deal for the succession of Rupert Murdoch.

His oldest son, Lachlan Murdoch, is cementing control of the media empire that includes Fox News and The Wall Street Journal.

Rupert's children James Murdoch, Elisabeth Murdoch and Prudence MacLeod are reportedly set to receive $1.1 billion each and have agreed to sell their personal holdings in Fox and News Corp over a six-month period.

Read more from Reuters.

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