It looks like Lachlan Murdoch, once considered the heir apparent of Rupert Murdoch and News Corp. (NWS-A) is positioning himself to make some moves of his own, as last month the non-compete clause with News Corp. ended.
Lachlan has been making making a few transactions, sales and investments that seem to speak to his getting ready to build his own media empire. He resigned unexpectedly from News Corp. a couple of years ago.
He exercised his options in stock over News Corp., converting 220,000 options into shares last week. The options were priced at $8.07 each. The stock closed at $20.07 that day, giving Murdoch $4.42 million at the time. He also indirectly owns another 4.36 million shares worth $86.3 million via the LKM Family Trust.
Lachlan has made a few moves this year, purchasing a 50 percent stake in a firm that manages Bollywood celebrities. He also acquired a 2 percent stake in Destra, a digital media company in June.
He seems to be attempting build an international, cross-platform media company similar to his dad.
After his resignation, most feel his brother James is being considered to lead the company after his father Rupert Murdoch steps down.
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