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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/shine-agrees-to-news-corp-takeover.jpg"><img class="alignnone size-full" title="Rupert Murdoch's New Corp has agreed to buy his daughter Elisabeth's TV company" src="http://londonglossy.com/wp-content/uploads/2011/02/min-shine-agrees-to-news-corp-takeover.jpg" alt="Rupert Murdoch's New Corp has agreed to buy his daughter Elisabeth's TV company"/></a></p>
<p>Rupert Murdoch&#8217;s News Corporation has unveiled a £415 million deal to buy the TV production company set up by his daughter.</p>
<p>London-based Shine Group, which is behind MasterChef and The Biggest Loser, has agreed to sell the business to News Corp, with both parties signing a non-binding letter of intent.</p>
<p>Shine owns several production companies including Kudos, which makes Spooks, Life On Mars, Hustle and Ashes To Ashes.</p>
<p>If the deal is approved by the regulatory authorities, Shine&#8217;s chairman and chief executive Elisabeth Murdoch will join her father on News Corp&#8217;s board.</p>
<p>News Corp, which owns Fox News and the Sun and Times newspapers, is currently bidding to take full control of broadcaster BSkyB.</p>
<p>But it is waiting for a decision from Culture Secretary Jeremy Hunt, who has said he intends to refer the acquisition to the Competition Commission but has given the group more time to deliver undertakings.</p>
<p>Mr Murdoch, chairman and chief executive of News Corp, said: &#8220;Shine has an outstanding creative team that has built a significant independent production company in major markets in very few years, and I look forward to them becoming an important part of our varied and large content creation activities.&#8221;</p>
<p>Ms Murdoch, who founded Shine in 2001, said: &#8220;In a rapidly consolidating global TV industry, this alliance uniquely provides the conditions in which Shine Group can continue to lead and prosper.</p>
<p>&#8220;News Corporation is the partner that enables us to maintain our aspiration to be best in class across all our sectors, and prepares and equips us for future growth.&#8221;</p>
<p>After the deal is completed, Shine Group will report to Chase Carey, News Corp&#8217;s deputy chairman, president and chief operating officer who described the deal as &#8220;a unique and exciting opportunity&#8221;.</p>
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