| News - Industry Economics | | Ditulis oleh Mimi Chau | Murdoch's son buys radio company
SYDNEY, Nov. 26 (Finance Roll) -- Rupert Murdoch's son Lachlan has made his biggest investment since leaving News Corporation more than four years ago, Australian Associated Press reported on Thursday.
Lachlan Murdoch's private investment company Illyria has acquired a half share and management rights of DMG Radio Australia.
The transaction, believed to be costing about 120 million Australian dollars (111 million U.S. dollars), will see him become chairman of a new joint venture company, DMG Radio Australia's parent company Daily Mail and General Trust plc revealed.
John Connolly, a spokesman for Illyria, said the decision to invest in the company followed an "exhaustive" search.
He said the company looked at about 300 media and media-related properties, before deciding on DMG Radio Australia because it was a "great media business".
"He likes commercial radio and sees plenty of growth in it, but equally, just after the global financial crisis a great time to be buying because, of course, everyone is doing it tough," Connolly said.
Through Illyria, Mr. Murdoch has made investments in Australian regional television group Prime Media, Funtastic, which licenses television programs and develops toys, and a team in the Indian Premier League cricket tournament. (Finance Roll) | |
| News - Industry Economics | | Ditulis oleh Phuong | Vietnam's export of precious stones, metals almost triples year-on-year
HANOI, Nov. 26 (Finance Roll) -- Vietnam raked in 2.65 billion U.S. dollars from export of precious stones and metals in the first nine months of this year, almost tripling the figure for the same period last year, according to the information center of Ministry of Industry and Trade on Thursday.
In the first nine months, Vietnam exported precious stones and metals to 17 markets. Among these markets, Switzerland was the biggest importer of Vietnamese precious stones and metals with turnover of 2.29 billion U.S. dollars.
In September, Vietnam posted a month-on-month increase in export turnover of precious stones and metals to Switzerland, the United States, the Republic of Korea, Belgium, France and Japan. (Finance Roll)
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