Lachlan Murdoch Set to Complete Purchase of Ten Stake, Review Reports

Lachlan Murdoch is expected to complete the purchase of a stake in Ten Network Holdings Ltd. from James Packer in about a week, the Australian Financial Review reported, citing industry sources. Murdoch has secured financing for the purchase, which will cost at least A$130 million, with the deal to be completed at least two weeks before he joins the company board, the newspaper said.

To contact the reporter on this story: Wendy Pugh in Melbourne at wpugh@bloomberg.net

To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net