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Shares in Rightmove surged by up to 25% following news that Australia's REA Group, majority-owned by Rupert Murdoch's News Corp, is considering a takeover bid. The potential deal could be valued at around £4.4 billion, raising questions about the future of the UK's leading property portal.
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Hedge fund tycoon Sir Paul Marshall has acquired The Spectator magazine for £100 million, following a lengthy auction process. The deal comes after a failed bid by an Abu Dhabi-backed consortium, which was blocked by UK legislation prohibiting foreign ownership of British media assets. Marshall aims to enhance the magazine's potential while maintaining editorial independence.
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Rupert Murdoch's attempt to amend his family trust to ensure his son Lachlan retains control over his media empire is under scrutiny in a closed court hearing. The case has drawn significant media attention due to its implications for the future of influential outlets like Fox News and The Wall Street Journal.
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Major media companies, including Reach and DMGT, are implementing significant job cuts in their digital operations due to financial pressures. The restructuring affects both UK and US divisions, with notable layoffs at the Daily Express and the Sun's American edition. These changes reflect ongoing challenges in the media landscape as companies adapt to shifting audience demands.