In a move some have (foolishly) described as an exercise in nepotism, Rupert Murdoch's News Corporation has just announced a £415 million deal to buy the TV production company set up by his daughter.
London-based Shine Group - which owns several production companies & is behind programs such as MasterChef, The Biggest Loser, Spooks and Life on Mars - is selling the business to News Corp, which owns Fox News and the Sun and Times newspapers. Shine's chairman and chief executive Elisabeth Murdoch will join her father on News Corp's board.
Rupert Murdoch (pictured above with his daughter, left) said: "Shine has an outstanding creative team that has built a significant independent production company in major markets in very few years, and I look forward to them becoming an important part of our varied and large content creation activities." (quote source: Telegraph)
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