Rupert Murdoch, Wendi Deng reach divorce deal

Rupert Murdoch and his wife, Wendi Deng Murdoch
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Media baron Rupert Murdoch and his wife, Wendi Deng Murdoch, have reached a divorce settlement, but the terms were not disclosed.

The two appeared in a New York court Wednesday to tell a judge they've reached a deal to end their 14-year marriage.

The Murdochs said in a joint statement that the settlement was amicable and that they'll move forward with "mutual respect" and a shared interest in their daughters' welfare.

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Rupert Murdoch divorce settlement approved

As part of the deal, Deng, 44, is expected to keep the apartment the couple once shared with their two young children, Grace and Chloe, on Fifth Avenue in Manhattan, as well as their home in Beijing.

It was the third marriage for 82-year-old Rupert Murdoch, who leads 20th Century Fox and News Corp.

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 adult children from previous marriages.

He and Deng's two school-age daughters are beneficiaries of 8.7 million non-voting shares being held in a separate trust.

Murdoch filed for divorce from Deng in June, seeking to end a marriage that had been irretrievably broken, according to his spokesman. He made the move weeks before he was set to split his media and entertainment empire into two separate companies.

Reuters and The Associated Press contributed to this report.