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Murdoch and Wendi Deng reach divorce settlement
Last Updated: 2013-11-21 14:57 | CE.cn
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By Li Hongmei

Media mogul Rupert Murdoch and Wendi Deng ended their 14 year marriage Wednesday with a hug and a handshake.

It was a cordial conclusion to what had been a big bucks divorce battle between the billionaire, 82, and his third wife, 44.

Neither said a word to reporters. But they later released a statement.

"We are pleased to announce that we have reached an amicable settlement of all matters relating to our divorce," it said. "We move forward with mutual respect and a shared interest in the health and happiness of our two daughters. We will not comment on this any further."

The final details of the divorce settlement had been worked out earlier. So there was no further drama.

As part of the agreement, the terms of the split were sealed. But their divorce reportedly ran into roadblocks over their homes in New York - where they had a $44 million apartment - and in Deng's native China.

The pair also reportedly had differences over custody arrangements for their two young daughters, Chloe, 10, and Grace, 11.

A source familiar with the terms said Deng would be allowed to keep the Fifth Avenue apartment because that's home to the girls.

Murdoch filed for divorce from Deng in June.

Rupert Murdoch and Wendi Deng have two daughters and equal economic stakes in the mogul's media empire.

While Murdoch's children from his earlier marriages have voting stakes in his companies, Grace and Chloe do not.

Grace and Chloe do, however, have equal economic stakes with their four siblings, a source said.

Murdoch's companies include media and entertainment properties worldwide like the Wall Street Journal, the New York Post, 20th Century Fox and Fox News.

Murdoch met Deng in 1997 at a company party in Hong Kong. They tied the knot two years later - less than a month after his divorce from Anna Torv was finalized.

Deng became an instant Web sensation in 2011 when she was caught on camera decking a protester who threw a pie in her husband's face as he testified to a British parliamentary committee about the phone-hacking scandal.

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