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Rupert Murdoch to Buy Vineyards Estate in California

Rupert Murdoch to Buy Vineyards Estate in California

Monday, 13 May 2013 09:18 AM

Rupert Murdoch is preparing to buy the Moraga Vineyards Estate at Bel Air in California.

The 82-year-old media tycoon, who has a net worth of just over $11 billion and is the chairman and CEO of News Corp., the parent company of Fox News and the Wall Street Journal, shared his soon to be acquisition on Twitter Friday.

The 13-acre vineyard is a wine growing estate located in the Santa Monica Mountains. Situated five miles from the Pacific Ocean, it has an elevation of 600 to 900 feet.

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Murdoch reportedly became aware of the property after it was recently listed in his Wall Street Journal for an asking price of $29.5 million. It was not reported how much Murdoch shelled out to buy the property.

A spokesperson for Murdoch declined to comment about the acquisition on Friday, The Los Angeles Times reported. (http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-rupert-murdoch-buys-bel-airs-moraga-vineyard-20130510,0,114629.story)

Moraga was the first commercial winery to be bonded in the city of Los Angeles after Prohibition ended in 1933, according to the winery’s website.

Victor Fleming, who directed such classic films as "Gone With the Wind" and "The Wizard of Oz," owned the property in the 1930s and 1940s. At the time, Fleming used it as a horse ranch.

Famous celebrities such as Clark Gable, Vivian Leigh, Ingmar Bergman and Spencer Tracy were frequent guests to the estate, the Los Angeles Times reported.

The current owner, Tom Jones, former CEO of Northrop Corporation, has owned the property for 53 years.

Wines produced at Moraga include: Cabernet, Merlot, Petit Verdot, Cabernet Franc and Sauvignon Blanc.

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Moraga wines are reportedly sold at several upscale eateries throughout Los Angeles, including Nobu, Spago, the Bel Air Country Club, the Beverly Hills Hotel, and Morton's Steakhouse.

The residence on the estate is a 7,500 square foot Mediterranean-style homestead with four bedrooms, four bathrooms, a lavish octagonal dressing room and maid’s quarters, Property Observer reported.

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Monday, 13 May 2013 09:18 AM
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