And you thought he would be in hiding forever: Lachlan Murdoch has made his first investment - in an Australian online DVD company - since leaving his father’s News Corp last year…Murdoch has paid about $490,000 for a 9.6% stake in DVD subscription service Quickflix.
In August last year, he set up a new company, Illyria, which was used as the vehicle to purchase the stake in the DVD site…Quickflix owns online DVD rental company HomeScreen Entertainment, which was founded by Tony Faure, the recently appointed chief executive of Yahoo Australia and New Zealand head of NineMSN (not Yahoo AU/NZ, as I mentioned first, where Tony was a former GM…The recently appointed CEO of the Yahoo!7 joint venture is Ian Smith.)
Sydney Morning Herald: Quickflix listed in June last year after beginning operations in 2004 with the backing of executives from eBay and Borders Books founder Tom Borders. Last month an online music business, the publicly listed Destra, also built a 10 per cent stake in Quickflix.