NEW YORK — News Corp. chairman Rupert Murdoch and ex-wife Anna have finalized their divorce with an “amicably agreed” property settlement, the couple revealed in a statement Wednesday.
Details will remain secret, the couple said, noting that “the Murdoch family ownership and the management of News Corp. will not be affected.” Murdoch spokesman Howard Rubenstein and a News Corp. spokesman declined further comment.
The settlement comes almost a year after Mrs. Murdoch filed for divorce, citing “irreconcilable differences.” The two had been married for 32 years.
Under California divorce law, Mrs. Murdoch would have been entitled to half of her ex-husband’s property.
Matter of trust
The Murdoch family’s 30% stake in News Corp. is worth roughly $10 billion but Murdoch technically does not own the stock. It is held through a trust, whose beneficiaries are the Murdoch children.
Murdoch has the right to appoint voting trustees and observers said earlier this year that the settlement may hinge on how much this right is worth. Observers speculated Wednesday that Murdoch may have come up with some way to raise money against the stock, possibly through a loan, for the settlement.
There was concern on Wall Street last year that the settlement could destabilize Murdoch’s control of the company. News Corp. stock rose 56¢ to $36.37 Wednesday as that concern abated.
After separating from his wife last spring, Murdoch began a widely publicized personal relationship with Star TV exec Wendy Deng.