The media-and-entertainment company will have film and TV assets. Murdoch is slated to be chairman of both entities and CEO of entertainment when the deal closes in about a year. CS brings you some more information about the media mogul:
Rupert was born to Australian newspaper publisher Sir Keith Murdoch and his wife Elizabeth Greene and has three older sisters. Rupert was nicknamed 'Koala Kong' by his critics, when he went on a buying spree of Australian newspapers. In the fall of 1968, Rupert purchased the popular Sunday tabloid, The News of the World. One year later, he purchased a struggling daily tabloid, the Sun and transformed the paper into a wild success.
Rupert married Patricia Booker in 1956, and they had a daughter, Prudence, before divorcing in 1965. He married Anna Torv in 1967, and they had four children before eventually divorcing in 1999. Only seventeen days after his second divorce, he married third wife Wendi Deng. They have two children.
In July 2011, Rupert faced allegations that his companies had been regularly hacking the phones of celebrities, royalty and public citizens. He faces police and government investigations into bribery and corruption by the British government and FBI investigations in the US.