Murdoch's Bid To Buy Daughter's Co. Is Nepotism: Suit

Law360, New York (March 16, 2011, 7:55 PM EDT) -- Amalgamated Bank filed suit Wednesday in Delaware court against Rupert Murdoch and News Corp.'s board, alleging the media giant overpaid for a film company owned by Murdoch's daughter in a $675 million deal that amounted to nepotism.

News Corp. CEO Murdoch’s main goal in obtaining Shine Group Ltd. was to bring daughter Elisabeth Murdoch back into the family business, according to the shareholder derivative complaint lodged in the Delaware Court of Chancery.

“Once the prodigal daughter is back into the News Corp. fold, she will vie...
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