Murdoch snaps up The Shine Group for around £700m

first_img Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Wednesday 9 February 2011 8:39 pm RUPERT Murdoch is set to buy the company his daughter founded after years of trying to get her to join the family company.News Corp has agreed to buy independent TV production company The Shine Group, which is responsible for hit shows including Master Chef and Ashes to Ashes, in a deal valuing it at around £700m.News Corp will use the firm’s content to bolster the appeal of its stations in Europe and the US.The deal has yet to be finalised but sources close to the negotiations say a “deal in principle” has been struck.Shine is the sixth-largest independent TV production firm in the UK.Its profit forecasts for 2011 are £50m, after turning over £103m last year.Elisabeth Murdoch will be the biggest winner in the deal, with her 53 per cent of the firm worth £371m. Sony will also cash in, with its 20 per cent stake worth £140m and BSkyB’s 13 per cent stake worth £91m.The media tycoon has been desperate to lure Elisabeth back into his empire.She was a senior figure at BSkyB before founding Shine in 2001. It is thought she will take a place on the News Corp board of directors.FAST FACTS | SHINEElisabeth Murdoch founded The Shine Group in 2001 after falling out with her mentor at BSkyB Sam Chisholm.Shine is responsible for the production of hit programmes including Master Chef. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndo Sharecenter_img Murdoch snaps up The Shine Group for around £700m whatsapp whatsapp Tags: NULL KCS-content last_img read more