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News Corp Buys $673M Shine Group

News Corporation will acquire U.K. television production company, Shine Group.

News Corporation will acquire U.K. television production company, Shine Group, Bloomberg reports. The Rupert Murdoch-controlled media conglomerate will pay around $673 million for the acquisition of his daughter’s company.

London-based Shine’s founder, Elisabeth Murdoch, will also join the board of New York-based company upon completion of the deal. She will remain CEO and Chairman of Shine, which will be overseen by Chase Carey, News Corp’s president and COO, adds The Wall Street Journal.

Click here for the story from Bloomberg.

Click here for additional coverage from The Wall Street Journal.

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