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The Canberra Times:

Previously undisclosed Treasury documents have shed new light on the beginnings of Mr Murdoch’s transition from an Australian newspaper proprietor to an international media player.

Secret Treasury files recently released by the National Archives show how Mr Murdoch faced strong opposition from the Treasury and then treasurer, Billy McMahon, when he applied to shift capital out of Australia to finance his 1968 bid for the Fleet Street weekly the News of the World.

Mr McMahon refused to allow Mr Murdoch’s bid to proceed, but intervention by Prime Minister John Gorton, a Murdoch ally, ensured the go-ahead was given.