Daily Mail owner sells Australian radio assets
Daily Mail and General Trust, the newspaper and magazine publisher, is to sell its remaining half-share in DMG Radio Australia to Illyria, the private investment vehicle of Lachlan Murdoch, the eldest son of media mogul Rupert Murdoch.
Daily Mail and General Trust, the newspaper and magazine publisher, is to sell its remaining half-share in DMG Radio Australia to Illyria, the private investment vehicle of Lachlan Murdoch, the eldest son of media mogul Rupert Murdoch.
Illyria will pay £65m for the holding, giving it 100% ownership, while DMGT will also receive a further sum, equivalent to 50% of the Australian radio network's dividend for the year ending September 30th.
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