Lachlan Murdoch buyout of Oz media firm back on track

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Rupert Murdoch’s eldest son, Lachlan, looks to have found another backer for his £1.5bn buyout of Consolidated Media Holdings in Australia.

Murdoch’s attempt to buy out the firm – in partnership with Kerry Packer – was first revealed in January, but the funding fell through.

The FT says Murdoch is now close to securing a deal with private equity house Providence to finance the takeover.

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