Rupert Murdoch reaches divorce settlement with third wife, Wendi Deng Murdoch. (Photo: Chinanews.com)

Media baron Rupert Murdoch and his wife, Wendi Deng, have reached a divorce deal.

The two appeared in a New York City court on Wednesday to tell a judge they had arrived at a settlement to end their 14-year marriage. The terms were not disclosed in court. It was the third marriage for 82-year-old Murdoch, who runs an entertainment and media empire.

Murdoch split his firm News Corp. earlier this year into two companies: the journalism and publishing portion, still called News Corp., and the more profitable film and TV unit, 21st Century Fox. The divorce won¡¯t affect control of the companies or the succession plan for them.

Rupert Murdoch controls them through a family trust that benefits his four children from previous marriages. He and Wendi Deng¡¯s two school-age daughters are beneficiaries of 8.7 million non-voting shares being held in a separate trust.