News Corporation has completed the acquisition of 100 percent of Shine Group, the London-based TV production company owned by the Rupert Murdoch’s daughter, Elisabeth Murdoch. DigiNet first reported on the acquisition in February.
The official announcement says that Shine Group shareholders received approximately £290 million in aggregate proceeds. This is the “take away” amount left after retiring Shine’s debt and paying other liabilities. The full purchase price is reported to be £415 million.
News Corporation was advised by Hogan Lovells. J.P. Morgan acted as exclusive financial advisor to Shine Group, with legal advice from Olswang LLP in the U.K. and O’Melveny & Myers LLP in the U.S.
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