News Corp (NYSE:NWS) Acquiring Murdoch Daughter's Shine Company

Rupert Murdoch brings daughter Elisabeth back into News Corp. (NYSE:NWS) fold with Shine acquisition.

Rupert Murdoch's News Corp. has reached a deal to buy Shine Group, the U.K.-based television production company founded by the business magnate's daughter Elisabeth, in a deal that values it at 415 million pounds ($673.3 million) including debt.

The all-cash transaction will bring Murdoch's eldest daughter, at age 42, back under the News Corp. umbrella 11 years after she left as former managing director of Sky Networks.

Her return comes amid speculation about who will succeed her 79-year-old father as head of the company. Elisabeth's brother James, 38, is considered to be the front runner to take over the media empire. He oversees a much larger portfolio, as chief executive of Europe and Asia.

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