The Huffington Post | By Katherine Fung
Posted: 08/28/2013 11:06 am EDT | Updated: 08/28/2013 11:21 am EDT
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Rupert Murdoch is getting into the wine business.
The Wall Street Journal reported Wednesday that the media mogul has closed on Moraga Vineyards, an estate and winery, in Los Angeles’s Bel Air neighborhood for $28.8 million. The 13-acre property includes vineyards and a wine cave, in addition to a 7,500 square-foot home, guest house and 4,400 square-foot office.
Murdoch plans to continue operating the winery, which produces about 1,500 cases a year. “He’s excited about learning the wine-making business,” listing agent Jim Kline told the Wall Street Journal.
Murdoch’s purchase has been pending since May, when he first expressed his excitement about buying the winery. "About to celebrate buying beautiful small vineyard right in LA. Great wine, Moraga, owned by great Angelino, Tom Jones. Time cover,1961!" he tweeted. Murdoch reportedly learned of Moraga Vineyards after reading about it in the Wall Street Journal.
He was able to close the deal only after the approval of his application for a California liquor license. The Los Angeles Times reported back in June that Murdoch was still waiting for the license before the sale could go through.
Winemaking is the latest addition to Murdoch’s busy agenda. The 82-year-old CEO presides over News Corp — which is still dealing with the fallout from phone hacking revelations in the UK — and 21st Century Fox, which split into two separate companies earlier this year. He is also currently going through a divorce from his wife of fourteen years, Wendi Deng Murdoch.
