Peter O'Malley (born December 12, 1937) is an American former owner (1979–98) and president (1970–98) of the Los Angeles Dodgers of Major League Baseball (MLB). Life and sports O'Malley was born at Carson C. Peck Memorial Hospital in Brooklyn, New York, to long-time Dodger owner Walter Francis O'Malley (1903–79) and Katherine Elizabeth "Kay" Hanson (1907–79). He has a sister, Theresa "Terry" O'Malley Seidler (born 1933), who was co-owner of the team. O'Malley graduated from the University of Pennsylvania, where he was president of his fraternity Phi Gamma Delta, and from the Wharton School of Business in 1960. In 1962, he was named the director of Dodgertown, the team's spring training headquarters located in Vero Beach, Florida. In 1965, he became president and general manager of the minor league Spokane Indians of the Pacific Coast League, where many future Dodger stars and coaches were on the roster. In 1967 O'Malley moved to the major league club as vice president of stadium operations and in 1969, as executive vice president. He took over the presidency of the Dodgers from his father on March 17, 1970. His father, Walter, who had been Dodger Chairman of the Board since that date, died on August 9, 1979. On March 19, 1998, Rupert Murdoch and News Corporation (then the parent company of the Fox Television Network) acquired the team for what was alternately reported as $311 million or $350 million (equivalent to $ to $ million in ). This was the highest price ever paid for a US sports franchise at the time. O'Malley relinquished the club presidency to become Dodger chairman of the board; he resigned that post at the end of the 1998 baseball season. Murdoch appointed NewsCorp subsidiary's Fox Television executives to oversee the Dodgers, with mixed results. The sale was reported as an estate and tax planning move for the O'Malley family, as Terry had ten children and Peter three. None had immediately emerged as a candidate to succeed Peter, and he acknowledged that the new economics of the game had dictated that the days of family baseball ownership, without support of a separate corporation, were largely over. NewsCorp sold the Dodgers in 2004 for $430 million (equivalent to $ million in ) to Frank McCourt, a Boston developer. In 1996, after earlier consideration and partly owing to a phone call from Los Angeles Mayor Richard Riordan on August 22, 1995 at