Elisabeth Murdoch Launching Mobile Video Company Vertical Networks
November 18 2015 - 12:54PM
Dow Jones News
By Steven Perlberg and Keach Hagey
Elisabeth Murdoch, daughter of 21st Century Fox and News Corp
Executive Chairman Rupert Murdoch, has started a new media company
focusing on short-form video for mobile devices, according to
people familiar with the matter.
The company, called Vertical Networks, was incorporated in
September in the U.K., according to a filing listing Ms. Murdoch as
the company director and sole shareholder. That filing also listed
Vertical's London address as the same as that of Freelands
Ventures, Ms. Murdoch's investing fund focusing on media,
technology and entertainment.
A spokeswoman for Ms. Murdoch confirmed she has set up the
company.
Vertical has in recent weeks met with other companies in the
media and technology space, these people said.
Ms. Murdoch, 47, is launching this new project about a year
after she exited the family business. Her production company, Shine
Group, was acquired for $675 million in 2011 by Mr. Murdoch's News
Corp., before the company split its entertainment holdings into a
separate company called 21st Century Fox in 2013. Last year, Shine
combined with Apollo Global Management's Endemol and Core Media,
and Ms. Murdoch left the company.
News Corp, which owns The Wall Street Journal, was until
mid-2013 a part of the same company as 21st Century Fox. Ms.
Murdoch's brothers, James and Lachlan Murdoch, in July took on
expanded roles at 21st Century Fox, as chief executive and
executive co-chairman, respectively. Rupert Murdoch has stayed on
as executive chairman.
Lachlan Murdoch is also co-chairman at News Corp, while James
Murdoch sits on the board.
Freelands Ventures has participated in venture rounds for
virtual reality startup 8i and health app Headspace in recent
months.
Write to Steven Perlberg at steven.perlberg@wsj.com and Keach
Hagey at keach.hagey@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 18, 2015 12:39 ET (17:39 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
News (NASDAQ:NWSA)
Historical Stock Chart
From Mar 2024 to Apr 2024
News (NASDAQ:NWSA)
Historical Stock Chart
From Apr 2023 to Apr 2024
