Elisabeth Murdoch Launching Mobile Video Company Vertical Networks

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 [e-mail] and Keach Hagey at [e-mail]

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(END) Dow Jones Newswires

November 18, 2015 12:39 ET (17:39 GMT)

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