Murdoch keeps it in the family with £415m buy

MEDIA tycoon Rupert Murdoch paved the way for his daughter Elisabeth to join News Corp as a senior executive yesterday by buying her television production company Shine in a £415m deal.
By The Newsroom
Published 22nd Feb 2011, 09:25 BST

Ms Murdoch founded Shine, which makes shows such as Masterchef and Merlin, in 2001.

Mr Murdoch, whose News Corp owns broadcaster Fox and publishes newspapers including the Wall Street Journal and the News of the World, said he expected Ms Murdoch to join the board of News Corp on completion of the deal.

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She will report to Chase Carey, deputy chairman of News Corp, sidestepping her brother James, who is responsible for News Corp’s European and Asian assets. The 38-year-old Mr Murdoch is widely seen as heir apparent.

Related topics:Rupert Murdoch