Murdoch Bid For Packer Media

Is Lachlan just trying to impress his Dad?

Shares in James Packer's Consolidated Media Holdings Ltd are in a trading halt amid rumours that the listed company could be privatised under a $2 billion deal involving Lachlan Murdoch.

The Australian website is reporting that Mr Murdoch, who quit his father Rupert Murdoch's News Corp in 2005, will become executive chairman of the company.

Don't we have media ownership laws to stop this sort of nonsense?