Australian Media Ownership Laws Change

Not long after new media ownership laws were passed through the Australian Government, big deals were made with Rupert Murdoch taking a 7.5% share in it's media giant rival John Fairfax Holdings. Many major players in the Australian media industry have also taken advantage of these laws to buy and sell with multi million and billion dollar sums changing hands.

Murdoch Joins The Party Down Under
"It was only a matter of time before new laws making media takeovers easier in Australia brought the country's most infamous publishing tycoon sniffing for blood.

Rupert Murdoch's News Corp has just bought a 7.5% stake in the rival Australian newspaper publishing giant John Fairfax Holdings for $360 million Australian (US$273 million). The purchase has got investors questioning whether the billionaire might buy more of the company, but News Corp, the world's third-biggest media conglomerate, has refused to comment on speculation." Forbes

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