Rupert Murdoch's Daughter Elisabeth Made $214M From Purchase of Shine Group to News Corp. (Report)

Rupert Murdoch's daughter Elisabeth made $214 million in the purchase of Shine Group to her father's company, News Corp., the La Occasions reported, stating Investments and Exchange Commission documents.our editor recommendsHow the Murdoch Papers Are Covering News around the globe ScandalConfessions of the 'News from the World' Reporter (Exclusive)Related Subjects•Rupert Murdoch The British TV production company, which produces such shows because the Greatest Loser and MasterChef, was offered to News Corp. for $675 million in April. About $480 million of this total was reserved for Shine's equity partners, while another $135 million was adopted to repay Shine's debt along with other liabilities. Elisabeth Murdoch was most investor with 53%, while The new sony Pictures Entertainment possessed 20%. The Shine purchase was met with debate, spurring legal cases from investors who reason that Shine was worth under its purchase cost. During the time of the purchase, Rupert Murdoch stated his daughter would join him and her siblings Lachlan and James on News Corp.'s board. But earlier this year, within the wake from the legal cases -- along with the phone-hacking scandal at News Corp. -- the organization introduced that Elisabeth Murdoch wouldn't be joining the board immediately. The move, which came among elevated corporate governance scrutiny because of the scandal, was targeted at shoring up News Corp.'s credibility. Furthermore, experts have contended that Murdoch family people, confidants and former News Corp. employees make the organization's board not independent. Related Subjects Rupert Murdoch News Corp. Phone Hacking Scandal