Elisabeth Murdoch received $214M in cash from the sale of her Shine Ltd. Television production company to News Corp., which is helmed by her father Rupert.
She continues as Shine’s CEO, receiving a $1.7M annual salary. News Corp. had various production deals with Shine worth $4.1M during the past year.
The media combined paid $480M for Shine, which includes $60M put aside in escrow to satisfy any indemnification obligations, according to News Corp.’s proxy statement. That deal closed in April.
Elisabeth was to join News Corp.’s board of directors, but that plan has been put on hold. Last month, she decided that it would be inappropriate to join the board at its annual meeting in Los Angeles in October. The company’s independent directors agreed that her planned nomination to the board should be delayed.
Freud Communications, which is headed by Elisabeth’s husband, Matthew, received $202K from News Corp. for press and publicity work during the fiscal 2011 ended June.
News Corp. called in Edelman to handled fallout from the hacking scandal.
Former News of the World legal affairs manager Tom Crone told a parliamentary hearing today that he is “certain” that James Murdoch was aware of an email saying that more than one “rogue reporter” was involved in the hacking scandal.
James Murdoch, who heads News Corp.’s European operations and serves as deputy COO of the company, testified in July that he was not aware of that email.