Rupert Murdoch’s bid for controlling interest in...

Rupert Murdoch’s bid for controlling interest in Australia’s domestic news service was blocked by the government, saying the proposal breached Australia’s anti-monopoly laws. But the government raised no objection to Murdoch’s plans to acquire the country’s major manufacturer of newsprint. Federal Treasurer Paul Keating invoked the Foreign Takeovers Act following objections that a Murdoch acquisition of Australian Associated Press Information Services Ltd. violated laws preventing monopolies. AAPIS operates the Australian Associated Press news service, which distributes news and photos throughout Australia. It employs about 120 journalists and has bureaus in every state capital as well as overseas. Murdoch controls almost 60% of Australia’s media.