Lauchlin Murdoch’s Influence at CMH Felt.

Lachlan Murdoch is back in business with his old One. Tel mate James Packer as part of a $3.3 billion joint deal to privatise Consolidated Media Holdings. What does this mean for Seek.com.au, of which CMH has a 27% interest?

They will receive $4.06, plus 0.1116 of a Seek share, for each CMH share that they hold, valuing their shares at $4.80. However, shareholders will be able to receive more in cash or shares.

Time will tell. But is the demise of 120-odd-year-old ACP publication The Bulletin indicative of Mr Murdoch’s plans for rampant cost-cutting? True, it must be difficult to justify the costs of the magazine when most folks receive their news and current affairs from the Internet. However, it shall be interesting to monitor the changes these two new bedfellows bring about and what impact such changes make on interests concerned with the recruitment sector, such as Seek.