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Asian stocks rose, with the regional benchmark index posting its seventh weekly advance, after the U.S. Congress passed legislation on a budget deal and manufacturing reports from China and the U.S. added to signs of a global recovery.
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Billionaire Gina Rinehart and John Singleton may seek control of Australia’s Fairfax Media Ltd. to pursue asset sales after teaming up to boost their say at the newspaper publisher, analyst Mark McDonnell said.
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Most Asian stocks declined, paring this year’s advance, with a deadline looming for the U.S. Congress to reach a budget agreement to avert automatic tax increases and spending cuts.
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For buyers as diverse as Rupert Murdoch’s eldest son Lachlan and rural broadcaster Southern Cross Media Group Ltd., there’s no cheaper media target in Australia than Ten Network Holdings Ltd.
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The Australian radio station that made a hoax call to a London hospital about the Duchess of Cambridge said it’s canceling the show and will cooperate with authorities after a nurse who answered the phone was found dead.
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The Australian radio station that made a hoax call to a London hospital about the Duchess of Cambridge said it’s suspending the show and will cooperate with authorities after a nurse who answered the phone was found dead.
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News Corp. agreed to buy Consolidated Media Holdings Ltd. for A$1.94 billion ($2 billion) to boost its stake in Australian pay television as billionaire Kerry Stokes weighs making a counter-offer.
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News Corp.’s A$1.94 billion ($2 billion) offer for pay-television company Consolidated Media Holdings Ltd. gained Kerry Stokes’s support after the billionaire’s Seven Group Holdings Ltd. was blocked from bidding.
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No television broadcaster in the developed Asia-Pacific region is tempting its owners with a cheaper buyout opportunity than Seven West Media Ltd.
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Rupert Murdoch, Kerry Stokes and James Packer have veered from allies to bitter enemies over the years as each jockeyed to expand their Australian media empires. The three billionaires are at it again.
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