The legal dispute over the prior Murdoch Family Trust created an “increasingly uncertain and potentially high-risk governance backdrop” at Fox Corp. (FOX) (FOXA), so the the resolution of ongoing legal disputes along with separately announced share sales and the creation of new trusts simplifies governance and provides long-term governance visibility for Fox, says Morgan Stanley analyst Benjamin Swinburne. The risk of adverse outcomes from a complex and disputed governance structure has been removed, adds the analyst, who has an Equal Weight rating and $65 price target on Fox Corp. shares.
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