Chanticleer
REA’s $11b takeover fight is another headache for Murdoch
As the battle over the media mogul’s family trust heats up, a key driver of the empire’s financial success is trying to start a new era of growth with a big deal.
While the world breathlessly awaits the Murdoch family’s latest Succession-like drama set to play out in a courtroom in Reno, Nevada, another fascinating tussle central to its financial success is gathering pace in London, England.
The legal battle over a Murdoch family trust will decide how Rupert Murdoch’s fortune will be split up following his death. But exactly how big a pie Rupert’s children – Lachlan, Elisabeth, James and Prudence – will have to divide will depend in no small part on whether Australia’s dominant property classifieds player, REA Group, can start a new era of growth by buying British group Rightmove.
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