You are never too old to be a parent. At least that's the message global media baron Rupert Murdoch seems to be sending out to other septuagenarians. The News Corp owner became a father of a nine-pound girl on Monday evening in New York. His third wife Wendi Deng delivered a healthy baby who has since been named Grace Helen, according to media reports.

Grace Helen Murdoch is Rupert Murdoch's fifth child and first through Wendi. His eldest is Prudence MacLeod (38) through first wife Patricia, Elisabeth (33), Lachlan (30), and James Murdoch (28) were born during his 31 year marriage with second wife Anna, who he divorced two years ago surprisingly to marry Wendi who worked within Star TV in Asia.

Sources indicate that Grace will be handed a stake in News Corp some time in future through Murdoch's holding company Cruden Investments.

Additionally, Grace is likely to inherit a 10 per cent stake in Cruden held by Rupert's mother Dame Elizabeth Murdoch. Cruden Investment's holds a 30 per cent stake in News Corp.

News Corp is run by President & COO Peter Chernin, though Lachlan and James both hold key position in the Murdoch empire. His daughter Elisabeth runs a production house independent of her father's media interests, while eldest daughter Prudence also does her own thing.

This is what she had told AFP a couple of years ago describing her father: "I'm sure he can be unpleasant, but dad is not evil... he is very fit and very much in control of everybody and he ain't going to retire. I can't ever see him slowing down."

Shall we say Amen to that?