The Murdoch family have reached a deal which will see Rupert Murdoch's son Lachlan cement control of the family media empire that includes Fox News and The Wall Street Journal.
The agreement ends a battle over who will control one of the highest-profile global media groups, reported Sky News.
The dispute is thought to have been one of the inspirations for the television series Succession, about the infighting of the members of a media dynasty.
Under the deal, Rupert's children James Murdoch, Elisabeth Murdoch and Prudence MacLeod will sell their personal holdings in Fox and News Corp over a period of six months.
In return, they are each expected to receive about $1.1bn (£810m) in proceeds, according to a source.
Fox Corp said on Monday it had reached a mutual resolution, putting an end to all legal proceedings.
A new family trust will be created to benefit Lachlan Murdoch, and his younger siblings Grace and Chloe Murdoch, who are Rupert's children from his marriage to Wendi Deng Murdoch.
A battle over the global television and publishing empire had played out last year in a Nevada courtroom, where a judge considered the contentious matter of succession.