Days after resigning from News Corp.'s board of directors, James Murdoch has been approved to join the board of the owner of Art Basel as his firm takes a stake in the company.
"We are very pleased that our future fellow shareholders have approved Lupa System’s entry into the MCH Group," Murdoch said in a statement. "As a long-term anchor investor and on the Board of Directors, we will do our utmost to contribute to the successful turnaround and further strategic development of the company, rewarding the trust placed in us."
The move marks the latest effort by Murdoch's Lupa Systems to invest in the global events business. Last August, his firm partnered with Attention Capital to nab a majority stake in the organizers of the Tribeca Film Festival from the Madison Square Garden Company and Tribeca co-founder Craig Hatkoff.
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