(Newser) -
A $3 billion bid for control of Australia's Consolidated Media Holdings by Rupert Murdoch’s son, Lachlan, is dead in the water after Murdoch’s financial backers and CMH—a major magazine and TV player—failed to agree to a price for the takeover, the Australian reports today. The original deal set a $4.80 share price; Murdoch’s equity partners, Providence Equity Partners, would only pay $4.60.
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