Elisabeth Murdoch joins News Corp after Shine sale
Business digest: Media mogul Rupert Murdoch buys daughter's production company for £415m
Elisabeth Murdoch's television production company, Shine, was yesterday bought for £415m by her father, media magnate Rupert Murdoch.
The move is seen by many as an indication that Elisabeth will soon take up her place at her father's News Corp empire. Although she has been present at various meetings for years, she has previously refused to officially sit on the board.
Talking yesterday, the 79-year-old media mogul said that he was looking forward to working with his daughter's company, and making them "an important part of our varied and large content creation activities".
Shine has projected revenues of £400m in 2010, and has become Britain's largest consolidated independent production company, with a presence in 10 countries across the globe.
The move, which will further increase News Corp's power in the British television market, comes at a time when the company is battling to buy out remaining stakes in satellite broadcaster BSkyB.
Read a full report at the Independent. ·