| MUMBAI:
Australian media scion and eldest son of media baron Rupert Murdoch, Lachlan,
who parted ways with News Corp four years back, has taken a stake in Paul Ramsay's
Australian regional television group Prime Media. Murdoch
will hold a 9.1 per cent in rural TV network group, which is in the process of
raising $80.64 million (110 million Australian dollars) for debt relief, under
his private company Illyria Pty Ltd. The
is the first significant move for three-year old Illyria, after the $2.9 billion
(3.2 billion Australian dollars) bid to join hands with James Packer to privatize
the Australian-listed media group Consolidated Media Holdings Ltd (CMH) shelved
last year. The deal would have given him stakes in pay TV businesses Foxtel and
Fox Sports, and in PBL Media, the owner of Channel Nine and ACP Magazines. Meanwhile,
Kerry Stokes's Seven Network, which provides programming to Prime's TV network,
increased his stake to 11.6 per cent, while Ramsay's holding has been diluted
from 43 per cent to 30.1 per cent. Murdoch
holds 8 per cent stake in the Rajasthan Royals, Jaipur franchisee of the Indian
Premier League (IPL). As per media reports, Murdoch paid over $5 million for the
stake. Also
Read: Lachlan
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