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Saturday, September 8, 2012

Murdoch to take over Packer media group?

James Packer's Consolidated Media Holdings has received a formal US$2 billion takeover offer from Rupert Murdoch's News Limited.

Though less than a previous offer, the intention is to back the deal.

Since the death of Kerry Packer in 2005, his son, billionaire James Packer, has been shucking the family's traditional media business to focus on a worldwide gambling empire.

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