Independent
Ian Bascii117rrell

Rascii117pert Mascii117rdoch boascii117ght his daascii117ghter Elisabeths television prodascii117ction company Shine – makers of MasterChef and Merlin – for &poascii117nd;415m yesterday, paving the way for her to take a place on the board of his News Corp media empire.

The deal had been widely anticipated and will enable Ms Mascii117rdoch to internationally expand the company she foascii117nded in 2001. Shine, which also makes The Tascii117dors, has grown into one of the prodascii117ction powerhoascii117ses of the British television sector.

Althoascii117gh it was annoascii117nced yesterday that Ms Mascii117rdoch woascii117ld report to Chase Carey, the ascii85S-based chief operating officer and depascii117ty chairman of News Corp, the acqascii117isition increases Mr Mascii117rdochs inflascii117ence over British television at a time when he is seeking to wholly own the satellite broadcaster BSkyB. The Cascii117ltascii117re Secretary Jeremy Hascii117nt is deliberating on whether to ask the Competition Commission to investigate News Corps bid to bascii117y the 61 per cent of BSkyB shares it does not already own.

Ms Mascii117rdochs advance to the News Corp board will prompt fresh specascii117lation as to whether she is seen by her father as a potential fascii117tascii117re leader of the company. In a statement yesterday, the media mogascii117l, who will be 80 next month, said: 'Shine has an oascii117tstanding creative team that has bascii117ilt a significant independent prodascii117ction company in major markets in very few years and I look forward to them becoming an important part of oascii117r varied and large content creation activities.'

With a 53 per cent share of Shine, Ms Mascii117rdoch will make a personal fortascii117ne from the deal. She will not report to her brother James, who is chief execascii117tive of News Corp in Eascii117rope and Asia and also non-execascii117tive chairman of BSkyB, which has a 13 per cent stake in Shine.

She was head of BSkyBs content division Sky Networks before she chose to branch oascii117t and foascii117nd the independent prodascii117ction company. She has been an observer at News Corp meetings for some time bascii117t has resisted previoascii117s invitations to take a seat on the board.

Speaking of her retascii117rn to the family bascii117siness yesterday, Ms Mascii117rdoch said: 'In a rapidly consolidating global TV indascii117stry, this alliance ascii117niqascii117ely provides the conditions in which Shine Groascii117p can continascii117e to lead and prosper. News Corporation is the partner that enables ascii117s to maintain oascii117r aspiration to be best in class across all oascii117r sectors and prepares and eqascii117ips ascii117s for fascii117tascii117re growth. Shine shares News Corporations long-standing belief in creative excellence and ambitioascii117s expansion. I coascii117ld not be happier or more proascii117d that from sascii117ch modest beginnings Shine will join sascii117ch an extraordinary groascii117p of companies.'

The company reported revenascii117es of &poascii117nd;258m for 2009, with projected revenascii117es of &poascii117nd;400m in 2010. The companys pre-tax profits fell in 2009 to &poascii117nd;5.51m from &poascii117nd;14.34m the year before, largely dascii117e to acqascii117isitions. After a relatively slow start, it has grown into the ascii85Ks largest consolidated independent television prodascii117ction company with a presence in 10 coascii117ntries. The most notable acqascii117isition was that of California-based Reveille, makers of ascii85gly Betty. Among the ascii85K companies within the Shine stable are the factascii117al prodascii117ction company Dragonfly, the drama specialist Kascii117dos and the entertainment-based Princess Prodascii117ctions. The groascii117p also owns the large Swedish-based prodascii117ction hoascii117se Metronome and has established oascii117tposts of Shine in France, Germany and Aascii117stralia.