Lachlan Murdoch has taken the position of deputy chairman of Prime Media Group (ASX:PRT), after his Illyria group purchased an 8.9% holding in the company.
Murdoch, a former News Corp director and son of Rupert Murdoch, will work alongside chairman Paul Ramsay.
The Illyria group paid $16 million for its holding in Prime last year.
“Murdoch's keen interest as a significant shareholder has helped Prime re-focus on our regional television and radio businesses,” Ramsay said. “His appointment as deputy chairman further enhances the business.”
PRT shares are today trading 0.78% lower at $0.635.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.