[SCHEDULE 13G/A] Fox Corp SEC Filing

Rhea-AI Filing Summary

Fox Corp Schedule 13G/A reporting changes to ownership of Class B common stock. The filing shows that on September 6-10, 2025 the Murdoch Family Trust (MFT) transferred roughly half of its Class A and Class B shares to three departing-member trusts for Prudence MacLeod, Elisabeth Murdoch and James Murdoch and transferred the remaining shares to three LGC Family Trusts for Lachlan K. Murdoch, Grace Murdoch and Chloe Murdoch. The LGC Family Trusts contributed their shares to LGC Holdco, LLC. Cruden Financial Services LLC ceased serving as trustee of the departing trusts and was replaced by Cruden 2, LLC as trustee/manager of the LGC entities. As of the filing, Cruden and MFT report beneficial ownership of 0 Class A or Class B shares, while K. Rupert Murdoch reports sole ownership of 1,200,862 Class B shares, representing 0.5% of the class.

Positive

• Clarifies beneficial ownership after intrafamily transfers, improving regulatory transparency
• K. Rupert Murdoch's direct stake quantified at 1,200,862 Class B shares (0.5%), removing ambiguity

Negative

• No material public stake consolidation — transfers are internal and do not materially change control
• Trustee change documented but filing does not disclose economic rationale or future voting intent

Insights

Corporate Governance Expert

TL;DR: Family reorganization redistributed trust ownership and trusteeship without large public stake changes.

The filing documents an intrafamily restructuring of Fox Corp stock held by the Murdoch Family Trust into separate trusts and a family holding company, and a change in trustee from Cruden to Cruden 2, LLC. The material public disclosure is that the MFT and Cruden no longer claim beneficial ownership, while K. Rupert Murdoch retains direct beneficial ownership of 1,200,862 Class B shares (0.5%). This is a governance and estate-planning transaction rather than a market-disruptive change: it clarifies beneficial ownership and voting/dispositive powers for regulatory transparency.

Securities Analyst

TL;DR: Ownership shifts are internal and de minimis for market exposure; no change to substantial public float.

The transfers moved MFT holdings into individual family trusts and LGC Holdco, with trustee changes documented. The only quantified public holding reported is Mr. Murdoch's 1,200,862 Class B shares (0.5%). No acquisition or disposition of additional shares that would exceed 5% of the class is reported. From a securities-materiality standpoint, this filing provides necessary transparency but does not indicate a significant shift in public ownership or control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Fox Corp

(Name of Issuer)

Class B Common Stock

(Title of Class of Securities)

35137L204

(CUSIP Number)

09/06/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 35137L204

1

Names of Reporting Persons

Cruden Financial Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 35137L204

1

Names of Reporting Persons

Murdoch Family Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 35137L204

1

Names of Reporting Persons

K. Rupert Murdoch

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,200,862.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,200,862.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,200,862.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Fox Corp
(b)	Address of issuer's principal executive offices: 1211 Avenue of the Americas New York, NY 10036
Item 2.
(a)	Name of person filing: Cruden Financial Services LLC ("Cruden") Murdoch Family Trust ("MFT") K. Rupert Murdoch
(b)	Address or principal business office or, if none, residence: Cruden Financial Services LLC c/o Maupin, Cox & Legoy 4785 Caughlin Parkway Reno, NV 89519 Murdoch Family Trust c/o Maupin, Cox & Legoy 4785 Caughlin Parkway Reno, NV 89519 K. Rupert Murdoch c/o Fox Corporation 1211 Avenue of the Americas New York, NY 10036
(c)	Citizenship: Cruden was formed under the laws of Delaware. MFT is governed by the laws of Nevada. Mr. Murdoch is a United States citizen.
(d)	Title of class of securities: Class B Common Stock
(e)	CUSIP No.: 35137L204
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See responses to Item 9 on each cover page. On September 6, 2025, the MFT transferred (i) approximately 50% of the shares of Class A common stock, par value $0.01 per share ("Class A Shares"), of the Issuer and approximately 50% of the shares of Class B common stock, par value $0.01 per share ("Class B Shares") held by the MFT to three trusts (collectively, the "Departing Member Trusts") established by Cruden, the sole trustee of the MFT, one for the benefit of each of Prudence MacLeod, Elisabeth Murdoch and James Murdoch and their respective descendants and charitable organizations and (ii) the remaining Class A Shares and Class B Shares held by the MFT to three trusts (collectively, the "LGC Family Trusts") established by Cruden, one for the benefit of each of Lachlan K. Murdoch, Grace Murdoch and Chloe Murdoch and their respective descendants and charitable organizations. On September 7, 2025, the LGC Family Trusts contributed such Class A Shares and Class B Shares to LGC Holdco, LLC ("LGC Holdco"), which is owned by the LGC Family Trusts. On September 10, 2025, Cruden (i) ceased to serve as the trustee of the Departing Member Trusts and (ii) was replaced by Cruden 2, LLC as the trustee and the sole manager of the LGC Family Trusts and LGC Holdco, respectively. As a result, the MFT and Cruden do not beneficially own any Class A Shares or Class B Shares as of the date of this filing.
(b)	Percent of class: See responses to Item 11 on each cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See responses to Item 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See responses to Item 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See responses to Item 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See responses to Item 8 on each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Cruden Financial Services LLC

Signature:	/s/ William P. Barr
Name/Title:	President
Date:	09/12/2025

Murdoch Family Trust

Signature:	/s/ William P. Barr
Name/Title:	President of Cruden Financial Services LLC, Trustee of Murdoch Family Trust
Date:	09/12/2025

K. Rupert Murdoch

Signature:	/s/ K. Rupert Murdoch
Name/Title:	K. Rupert Murdoch
Date:	09/12/2025

FAQ

What did the Schedule 13G/A for FOXA report?

The filing reports intrafamily transfers of Fox Corp Class A and Class B shares from the Murdoch Family Trust to departing-member trusts and LGC Family Trusts, trustee changes, and that K. Rupert Murdoch beneficially owns 1,200,862 Class B shares (0.5%).

Does the filing show any party now owns more than 5% of FOXA Class B stock?

No. The filing states ownership amounts of the reporting persons are ≤5%; K. Rupert Murdoch is listed with 0.5% and the trusts/Cruden report 0%.

Did Cruden Financial Services LLC retain trustee responsibilities?

No. The filing states Cruden ceased serving as trustee of the departing-member trusts and was replaced by Cruden 2, LLC as trustee/manager of the LGC entities.

Are there any reported purchases or sales of Fox shares in this filing?

No. The filing describes transfers among trusts and contributions to LGC Holdco but does not report open-market purchases or sales that change public float.

What is the effective date of the transfers described?

Transfers occurred on September 6, 2025 (initial transfers), with contributions to LGC Holdco on September 7, 2025 and trustee changes effective September 10, 2025 as stated in the filing.