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January 21, 2008

Two of the world’s most powerful media families have joined forces once again to make an offer for Australian firm Consolidated Media Holdings.

Two of the world's most powerful media families have joined forces once again to make an offer for Australian firm Consolidated Media Holdings. Lachlan Murdoch, the eldest son of Rupert, and James Packer (pictured), CMH's executive deputy chairman, have launched a 50/50 joint venture to acquire 100% of the firm for $4.06 per share.

CMH owns a stake in subscription television business FOXTEL, sports channel FOX Sports and online employment business SEEK. Consolidated Press Holdings, the Packer family's private company, currently owns 38% of the firm.

January 18, 2008

Li Ka-shing, head of family-owned conglomerate Hutchison Whampoa, has topped a new list of the 40 wealthiest people in Hong Kong with an estimated fortune of $32 billion.

Li Ka-shing (pictured), head of family-owned conglomerate Hutchison Whampoa, has topped a new list of the 40 wealthiest people in Hong Kong with an estimated fortune of $32 billion. Li's wealth has soared from $22 billion last year due to rising property prices, which has lifted the development industry to new heights.

Many other families firms also feature in the list, which has been published by Forbes. Raymond, Thomas and Walter Kwok, the brothers who own development firm Sun Hung Kai Properties, came in second with $24 billion.

January 17, 2008

The consortium of brewing giants Carlsberg and family-owned Heineken has finally entered into negotiations with fellow brewery Scottish & Newcastle in relation to a possible takeover bid.

The consortium of brewing giants Carlsberg and family-owned Heineken has finally entered into negotiations with fellow brewery Scottish & Newcastle in relation to a possible takeover bid. The consortium’s offer will be €10.80 per share, which is the minimum amount that S&N would consider, and values the firm at €10.18 billion.

January 16, 2008

MBA students are more attracted to the idea of working for a listed company than one that is family-owned according to a new report from consultancy Hill & Knowlton.

MBA students are more attracted to the idea of working for a listed company than one that is family-owned according to a new report from consultancy Hill & Knowlton.

January 15, 2008

An accident that has occurred at a mine belonging to family-owned steel giant ArcelorMittal has claimed 30 lives.

An accident that has occurred at a mine belonging to family-owned steel giant ArcelorMittal has claimed 30 lives. The firm announced in a statement that the accident, which happened last week, took place at its Abaiskaya mine in Kazakhstan.

Lakshmi Mittal (pictured), CEO and president, has expressed his sincerest condolences to the families and loved ones of the victims and has  travelled to the country to offer his personal support.

January 10, 2008

Maus Frères SA has, through its subsidiary Procastor, increased its ownership in Swedish clothing company Gant.

Family-owned Swiss retail group Maus Frères has, through its subsidiary Procastor, increased its ownership in Swedish clothing company Gant (pictured). The group has acquired 480,000 additional shares, representing 2.9% of the stock for €33 per share. In total, Maus Frères now owns 29.9% of the shares and votes in Gant.

January 10, 2008

Tata Motors, part of the family-owned Tata Group, has unveiled the world’s cheapest car.

Tata Motors, part of the family-owned Tata Group, has unveiled the world's cheapest car. Priced at a reported $2,500, the Tata Nano – also known as the "People's Car" – aims to bring the comfort and safety of a car within the reach of thousands of families in India.

Ratan Tata (pictured), chairman of the Group, said at the unveiling ceremony that he had watched too many families getting by with just two wheels. "It led me to wonder whether one could conceive of a safe, affordable, all-weather form of transport for such a family," he said.

January 9, 2008

Ferdinand Piech, Volkswagen AG Chairman and grandson of Porsche founder Ferdinand Porsche, has testified to a German court that he didn't know about any payments made to labour leaders when he was CEO between 1993 and 2002.

Ferdinand Piech, Volkswagen AG Chairman and grandson of Porsche founder Ferdinand Porsche, has testified to a German court that he didn't know about any payments made to labour leaders when he was CEO between 1993 and 2002.

The trial centres around former VW manager Klaus-Joachim Gebauer and ex-labour leader Klaus Volkert. Volkert is charged with demanding illegal bonuses while Gebauer is accused of breach of trust for reportedly organising these payments.

January 8, 2008

News Corporation has acquired a 14.58% stake in Premiere AG, the German pay-TV operator, for €287 million in cash.

News Corporation has acquired a 14.58% stake in Premiere AG, the German pay-TV operator, for €287 million in cash. This comes only one month after James Murdoch became chief executive of News Corporation Europe and Asia. With over 10 million viewers and more than four million subscribers, Premiere AG is the leading pay-TV operator in Germany and Austria.

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