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Elisabeth Murdoch's Shine Bought by News Corp.

Rupert Murdoch's News Corp. agreed to acquire his daughter Elisabeth Murdoch's Shine Group for $673 million the companies announced Monday.

Shine is a U.K.-based production company that owns Reveille in the U.S. Reports about the impending deal have circulated for weeks, often centering on the senior Murdoch's desire to bring his daughter into the business, where two of his sons are already directors.

"The companies signed a non-binding letter of intent and plan to make the appropriate government filings to receive regulatory approvals for the transaction.
Read more at B&C here.