Elisabeth Murdoch |
Elisabeth Murdoch collected a whopping $214 million from the sale of her TV production company, Shine Group, earlier this year, according to the Los Angeles Times—and she could be getting even more.
This past April, Rupert Murdoch’s News Corp. purchased Shine—which is behind titles like The Biggest Loser and The Office—for $675 million. Elisabeth Murdoch was the company’s majority shareholder with 53 percent, while Sony owned 20 percent. Until now, it wasn’t known how much Ms. Murdoch made in the deal.
On Monday, News Corp. submitted an annual report to the Securities and Exchange Commission showing that of the $675 million price, $480 million was earmarked for Shine's equity partners, $60 million of which has been set aside in escrow to “satisfy any indemnification obligations.” Another $135 million of the full purchase price went to retire Shine's debt and pay other liabilities. Elisabeth Murdoch “is entitled to her proportionate share of amounts that are released from escrow,” the document stated, meaning that she will likely receive even more than the initial $214 million payment.