Murdoch’s wife gets new bigshot lawyer

Murdoch’s wife gets new bigshot lawyer

Murdoch’s estranged wife hires new lawyer

Wendi Deng is hiring a top divorce attorney to handle her divorce from media mogul Rupert Murdoch, reports CNBC’s Robert Frank.

There is also the issue of joint property. The Murdochs owned a co-op in New York’s Upper East Side, which is valued at over $ 90 million. They have the two homes in California, a home in Beijing and property in London. There is also their yacht, the 180-foot boat called Rosehearty. It remains to be seen which properties are held in both of their names.

Another big issue is the trust. This is the family trust that controls News Corp through its voting shares. Rupert’s four children will control the trust after Murdoch’s death, while Chloe and Grace have just an economic interest. Their interest is equal to one-sixth each, which is worth billions.

But what Deng’s legal team is looking at is whether the kids’ equity is adequately protected, whether there are provisions for dilution and other possible changes in the company, or if Rupert ever has other children.

A spokesperson for the 44-year-old Deng and the 82-year-old Rupert did not immediately return calls for comment.

(Read more: Rupert Murdoch files for divorce)

Murdoch filed for divorce from Deng in June after 14 years of marriage. It is his third marriage and her second. There was no reason given in the public divorce filing other than the standard language indicating that the “relationship between husband and wife had broken down irretrievably.”

The divorce also came as Murdoch was is in the middle of splitting News Corp. into two separate companies, with one focusing on print media and the other focused on entertainment, television and film.

(CORRECTION: An earlier version of this story misstated the address of the Murdochs’ New York apartment.)

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