Competition watchdog to look into Lachlan Murdoch bid

Lachlan Murdoch’s bid for Australian media company Consolidated Media Holdings will be scrutinised by competition regulators because of his links to News Corp, according to the Financial Times.

Lachlan – Rupert Murdoch’s eldest son and a non-executive director of News Corp – told the paper he was confident the £1.5bn joint bid with James Packer would be rubber-stamped by the Australian competition watchdog.

News of the deal sent shares in Consolidated Media Holdings up 9.6 per cent yesterday.