News Corp. Wins Dismissal of One Lawsuit Tied to Its Shine Acquisition
But Rupert Murdoch's entertainment conglomerate still faces another investor suit that argues its purchase of the TV producer from Murdoch daughter Elisabeth amounted to nepotism.
NEW YORK - Rupert Murdoch's News Corp. has won a victory in litigation tied to its $675 million acquisition of U.K TV production firm Shine from Murdoch daughter Elisabeth.
A Delaware Chancery Court judge has thrown out a lawsuit from an Illinois pension fund seeking to inspect News Corp. documents about the deal, Bloomberg News reported.
The judge ruled that the request was moot since the pension fund and other shareholders had separately sued the media giant's directors over the deal. In that separate suit from Amalgamated Bank and others, investors claimed the deal amounted to nepotism and showed a failure of corporate governance at News Corp.
A News Corp. spokeswoman wasn't available for comment, Bloomberg said.