Australia's Consolidated Media share trade halted
SYDNEY, April 7 (Reuters) - Shares in Australia's Consolidated Media Holdings Ltd (CMJ.AX: Quote, Profile, Research, Stock Buzz) were placed on a trading halt on Monday pending an update on a possible takeover bid.
Lachlan Murdoch, son of media magnate Rupert, and gambling magnate James Packer launched a joint bid for Consolidated, which owns 25 percent of pay-TV provider Foxtel among other media assets, in January.
The deal, possibly worth A$3.3 billion ($3 billion), ran into difficulty in March when key backer SPO Partners & Co withdrew. (Reporting by Miranda Maxwell)
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