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Rupert Murdoch, Wendi Deng Murdoch Reach Divorce Settlement

Rupert Murdoch Wendi Deng Wedding Photo - H 2013
AP Photo/Grace Studio, Tom Rollo

UPDATED: The agreement won't affect control of or succession plans at 21st Century Fox or News Corp.

21st Century Fox and News Corp chairman Rupert Murdoch and Wendi Deng Murdoch on Wednesday announced a divorce settlement.

The two appeared in a New York court Wednesday morning to tell a judge about the agreement that ends their 14-year marriage.

PHOTOS: Rupert Murdoch and Wendi Deng's Wedding Album: The Way They Were (Photos)

Financial terms weren't disclosed. In a joint statement, the Murdochs called the settlement amicable.

The divorce won't affect control of his companies or the succession plan for them. A source familiar with the settlement said Deng Murdoch, 44, is getting the New York City home on Fifth Avenue, where she will be staying with the two school-age daughters she has with Murdoch, 82, and their Beijing house in the divorce.

PHOTOS: Rupert Murdoch's Family Photos

"We are pleased to announce that we  have reached an amicable settlement of all matters relating to our divorce," they said in a joint statement. "We move forward with mutual respect and a shared interest in the health and happiness of our two daughters.  We will not comment on this any further."

It was the third marriage of media mogul Murdoch.

Someone close to the situation said both sides wanted to get the issue resolved after Murdoch filed for divorce in June. With one pre-nuptial agreement and two post-nuptials, the divorce settlement was pretty straightforward, said one source.

According to someone who attended Wednesday's hearing in New York State Supreme Court, the hearing only lasted around 10 minutes and was mostly procedural.

E-mail: Georg.Szalai@THR.com
Twitter: @georgszalai