21st Century Fox

Comcast bids $65 billion for chunk of Murdoch empire

Comcast has offered $65 billion to buy the majority of 21^st Century Fox’s business, in what would be the largest-ever cash deal.

The Roberts family own 33% of Comcast’s voting stock, and 1% of its common stock, while 21^st Century Fox (21CF) is controlled by the Murdoch family, who own 39% of the voting stock and 17% of the equity.

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

Earlier this month it was revealed that Rupert Murdoch was standing back as chief executive of the movie and entertainment studio, appointing his sons to top positions within the company, with James becoming chief executive.

Rupert Murdoch’s daughter Elisabeth is set to leave the family media empire, stepping down from the helm of 21st Century Fox subsidiary Shine Group, which she founded in 2001.

She served as chief executive of the British television production company, which delivers shows such as MasterChef and The Biggest Loser, until 2011, when her father’s company bought the business.

She has since served as a chairwoman.

Only a month after he was promoted co-chief operating officer at 21st Century Fox, James Murdoch has added the role of board member of an advertising start-up to his résumé.

Murdoch, who built his career in his father's media empire, has joined the board of US-based True (X) Media – a digital advertising platform that promises to provide interactive advertising to its clients.