News-Corp: Murdoch subsidiary rejects management position
Elisabeth Murdoch, the daughter of controversial media mogul Rupert Murdoch, will not be joining the leadership team of Murdoch's News Corporation.
She believes it is currently inappropriate to run for the Board of Directors of News Corporation. This was announced by the company on Friday in New York. Elisabeth Murdoch runs the television production company Shine Group, which was taken over by News Corp. a few weeks ago at a price of 415 million pounds. According to SDA, the purchase price was too high in the opinion of many analysts.
Murdoch's daughter had been touted as the successor to her 80-year-old father, who heads the board of News Corp. Murdoch himself had brought his daughter into the discussion. According to US media reports, the Murdoch family's power is a thorn in the side of some shareholders. At almost 40 percent, the majority of voting rights at News Corp. are in family hands.
