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News Corp to be sued

Shareholders are sueing Rupert Murdoch's firm for nepotistic actions.

Shareholders in Rupert Murdoch's News Corporation media conglomerate filed a lawsuit yesterday to sue over charges of nepotism.

The accusation is that Murdoch is overpaying in the buyout of his daughter's Shine production company, which is to be bought for $675m.

Though Shine has become one of Britain's largest production companies, producing shows such as Masterchef and One Born Every Minute, News Corp's shareholders feel that it has been unfaily overvalued.

The lawsuit also stated that Murdoch commonly acts to benefit family members in business deals. Unsurprisingly, his daughter, Elizabeth, is scheduled to take a seat on the News Corp board following the deal.

Despite this, the deal has yet to be approved by all the necessary bodies within News Corp.

Liam McLaughlin is a freelance journalist who has also written for Prospect and the Huffington Post. He tweets irregularly @LiamMc108.