Rupe's eldest invests in Quickflix
Lachlan Murdoch has returned to the media biz, ponying up $490,000 for a 9.6% stake in Australian online DVD firm Quickflix.
It’s the first investment for Rupert Murdoch’s oldest son since he ankled last year as deputy chief operating officer of the family firm, News Corp.
Lachlan Murdoch’s company Illyria purchased the stake in Quickflix, which owns online DVD rental company HomeScreen Entertainment.
He remains a director of News Corp. A contract clause prevents him working as a director, exec or consultant to any company competing directly with the media giant.