Lachlan Murdoch’s planned media sector comeback has stumbled after he lost the support of one of his chief backers in his proposed A$3.3bn ($3bn) purchase of Australia’s Consolidated Media Holdings (CMH).
In January, Mr Murdoch joined forces with James Packer in a 50-50 deal to buy CMH, the Australian group containing the remnants of Kerry Packer’s media empire. The move was expected to resurrect the media career of Rupert Murdoch’s eldest son.
