Lachlan Murdoch to consolidate media interests in India

Lachlan Murdoch, the estranged heir of Rupert Murdoch is in India to consolidate his media interests.

 

The former heir apparent of News Corporation and the former blue-eyed boy of Rupert Murdoch, Peter Mukherjea now make a common pair. When Mukerjea resigned from Star TV, it fuelled speculation of a joint venture for the better part of last year.

 

Lachlan Murdoch broke off from Murdoch News Corporation's empire two years back and floated his own company called Illyria Pvt in Australia. Since then speculations of his interest in the Indian media space has been fuelled by his meetings with key players in the industry. While he made it clear to CNBC-TV18 that he had no current plans for a broadcast venture here, he may just be persuaded by his friend Peter Mukerjea.

 

Lachlan Murdoch, Director, Illyria, said, "I have no plans whatsoever to start a broadcast venture in India. Peter and I are good friends and go back a long way, since my days in Star. We have kept in touch. Who knows what may happen."

 

Murdoch made his first direct investment in the Indian media space with a 50:50 joint venture with Percept Holdings to float a new talent management company called Percept Talent Management. He claims this is just the first of many more acquisitions.

 

Rupert Murdoch's USD 5 billion bid for Dow Jones may be strongly opposed by controlling shareholders, the Bancroft family, but media reports suggest that Murdoch is on the charm offensive and wants his entire family to meet the Bancroft family to persuade them.

 

Lachlan Murdoch commented, "I have read the same reports that you have. All I can say is I am still on the board of News Corporation and we would love to meet with the Bancroft family to get a chance to win the Dow Jones bid. I think Wall Street Journal is a great paper."