Sept 8 (Reuters) -

The Murdoch family reached a deal that will see Rupert

Murdoch's politically conservative son Lachlan Murdoch cement

control of the family media empire which includes Fox News and

the Wall Street Journal.

Fox Corp ( FOXA ) said on Monday that it has reached a

mutual resolution on the legal proceedings related to the

Murdoch Family Trust, resulting in the termination of all

litigation.

A new family trust will be established to benefit Lachlan

Murdoch, Grace Murdoch and Chloe Murdoch.

The Murdoch children will be beneficiaries of a new trust,

which will receive cash from the sale of about 16.9 million

shares of Fox Class B stock and about 14.2 million shares of

News Corp's ( NWSA ) Class B common stock. The amount of the payment was

not disclosed.