News Corp shareholders thought Rupert Murdoch’s $675 million acquisition of daughter Elisabeth’s indie production company Shine Group back in April was enough of a sweetheart deal that they have filed lawsuits to challenge it. But it wasn’t revealed how much Elisabeth made — $214 million — until News Corp made its annual SEC filing Monday. Most of the purchase went to Shine’s equity partners, the filing said. Elisabeth Murdoch was the majority shareholder in Shine, which she has grown by purchasing local production companies; she bought The Office producer Reveille in 2008. After the News Corp-Shine deal was announced, Rupert Murdoch said his daughter would join News Corp’s board of directors alongside he and sons James and Lachlan. But those plans were scrapped for the time being earlier this month as part of the fallout from the growing News of the World scandal in the UK and questions about the conglomerate’s corporate governance.
By THE DEADLINE TEAM | Wednesday August 17, 2011 @ 8:21am PDTTags: Elisabeth Murdoch, News Corp, Rupert Murdoch, Shine Group
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