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SON OF RUPERT TO SOON CONTROL MOST OF AUSTRALIA’S MAJOR MEDIA

January 23rd 2008 02:09

Crikey reports that there's a “new traffic cop on the media beat in Australia –
Lachlan Murdoch, and once his deal with James Packer is consummated he will be directing the traffic in every major part of Australian media.
His new company will own 25 percent of the Nine Network, Australia's second-biggest TV network; 25 percent of Foxtel, Australia's dominant pay TV operator; he sits on the board of News Corporation, which owns Australia's biggest newspaper network, where he is also a substantial shareholder and is the son of the boss; and his new company will own 25 percent of Australia's biggest magazine publisher, ACP.

Crikey said, “The traffic in the Australian media used to flow through all sorts of big and small roads. Today there are a handful of freeways controlled by a handful of owners and, after the Murdoch-Packer play, traffic on most of those freeways will be channelled onto the Media Concentration Super Highway, all under the watchful eye of the new cop on the beat.
“Democracy in Australia is becoming more like a toll road.”



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3 Comments. [ Add A Comment ]

Comment by Harry

January 23rd 2008 02:20


Sydney Diary
Personals
Brisbane Diarystar
Zoo Parent
I agree. This is not good news.

How is Lachlan financing this without any of his Dad's money? He must be taking on a lot of debt.


Comment by Damo

January 23rd 2008 03:41
What his Dad dreamed of doing but could never do.


Comment by JJ McRoach

January 23rd 2008 03:48


Watching the Media
Yes, it looks like the media dynasties will continue, but perhaps becoming one great big dynasty!!

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