Well...not that Murdoch, but she's related. Elisabeth Murdoch, daughter of News Corp. (NYSE:NWS-A) head Rupert Murdoch, has made a deal with NBC Entertainment co-Chairman Ben Silverman to acquire his production company Reveille, for a reported $125 million plus, said the LA Times, citing sources close to the situation.
Reveille is the company which makes "Ugly Betty" and "The Office."
Silverman had been under fire and criticized for being a buyer and supplier of content, making it a conflict of interest. The company has been on the market since last year.
The deal will give Murdoch an entry into the U.S. market, and will also start on the road as an international distributor through her independent production company "Shine Ltd." which she has run for 7 years, and primarily serves the British market.
"If I were to crack the U.S. market, I would want to get to scale quite quickly. . . . Most importantly, I would want [a company] with deep and significant broadcaster relationships, with an outstanding producing track record, with market leverage and momentum," she said, when talking to a media conference in London on why she wants the company.
After the $125 million initial payment by Shine for Reveille, other payments will be made which will bring the deal to be worth over $200 million in the end.
For Elisabeth Murdoch and Shine, this is a big deal. It not only gives her an immediate presence in America, but with high quality shows leading the way.
The Murdoch's are making deals all over the place, as reported earlier today, brother Lachlan is trying to buy one of the largest media companies in Australia.
Comment Preview