Lachlan Murdoch buying THR?

Chris Forrester ©RapidTVNews | 30-11-2009

In essence the planet has two important entertainment trade newspapers: Variety, and The Hollywood Reporter. Both are struggling in an era of recession and digital diversity. There are widespread reports suggest that Lachlan Murdoch is chasing after The Hollywood Reporter and sister title Billboard.

Bloomberg TV reports that Lachlan is actively bidding for THR and Billboard. They are currently owned by Nielson Business Media. Lachlan is using his own investment company, Illyria, as a buying vehicle in a joint venture with Pluribus Capital Management, said Bloomberg. Pluribus has as its partners James Finkelstein, Matthew Doull and George Green, all well-connected publishers.

The gossip is that Nielson is looking for $70m for the titles which include some key trade shows.

Last week Lachlan sold $27.6m of News Corp shares.

© Rapid TV News 2009

News Corp-Illyria-Pluribus-Hollywood Reporter-Billboard

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