Lachlan Murdoch (pictured) is believed to be eyeing up investment opportunities in Indonesia, according to reports that the son of media magnate Rupert Murdoch has met with Indonesian tycoon James Riady.
Marshall Cooper, a commissioner at First Media, an internet company owned by the Riady family, confirmed that Murdoch was in Jakarta last week visiting a number of the Riady family’s real estate projects, as well as its newspaper in Jakarta.
He said there had been no discussions about any specific investments between Riady and Murdoch.
The Riady’s business interests cover a range of sectors including hospitals, real estate and media in Asia. Earlier this year, the family revealed they planned to invest as much as $10 billion regionally over the next few years. The company is also believed to be preparing to launch an English language daily newspaper in the country.
Murdoch was also believed to have visited several other Indonesian media companies, including the Media Group, the owner of the 24-hour news channel Metro TV.
Murdoch formed his own company – Illyria – in 2005 after resigning from the executive of News Corporation. He subsequently moved his family from New York to Australia. He retains a seat on the board of News Corp.
Earlier this year Murdoch joined forces with fellow Australian media mogul scion James Packer in a bid to buy Consolidated Media Holdings, which was built up by Packer’s father, the late Kerry Packer. However the deal was withdrawn in April after the current credit crunch made financing difficult.
Media baron scions' joint venture crumbles