27.11.2009
A son of News Corp CEO Rupert Murdoch has sold just over half of his holding of common shares in the media company for some US$27m in order to buy a large stake in an Australian radio broadcaster.
According to reports, Lachlan Murdoch’s private investment firm Illyria purchased 50pc of Daily Mail & General Trust's radio operations in Australia, DMG Radio Australia, in a deal rumoured to be worth US$110m.
Lachlan Murdoch holds a position on News Corp’s board.
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