Rupert Murdoch’s News Corp said on Friday it had secured 7.5 per cent of rival newspaper publisher John Fairfax Holdings as the carve-up of Australia’s media industry accelerated ahead of sweeping deregulation of the A$12bn sector.
Rupert Murdoch’s News Corp. said Friday it has bought a 7.5 percent stake in newspaper rival Fairfax, the latest move by industry moguls to take advantage of an overhaul of Australia’s media ownership laws.
MELBOURNE (Reuters) - Rupert Murdoch’s News Corp. has secured a 7.5 percent stake in Australia’s second-largest newspaper publisher, John Fairfax Holdings Ltd. , the latest step in an expected shake-up of the country’s A$12 billion ($9 billion) media industry.
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