Murdoch pays 415 million to keep Shine in family
22 Feb 11 -

News Corp. has agreed to acquire UK-based production company Shine Group for 415 million (494 million).

"This is a unique and exciting opportunity for us. Shine is a leader in the global television production business with a proven track record of developing hit shows and new formats worldwide," said Chase Carey, News Corp, deputy chairman, president and chief operating officer. "We have every confidence that Shine will be an important part of the expansion strategy for our worldwide TV operations."

Shine is run by Elisabeth Murdoch, daughter of News Corp chairman and CEO Rupert Murdoch. Murdoch senior said he expects his daughter to join the board of News Corp. on completion of the deal.