EMI chief in talks to buy Packer cattle ranch

First he sold off his late father’s media empire. Now James Packer is in talks to sell the family cattle interests in his latest move away from the business empire built up by his father Kerry Packer, the Australian media mogul.

Mr Packer is negotiating with EMI chief Guy Hands to sell the British financier his 90% stake in Consolidated Pastoral Company, Australia’s second biggest cattle producer, according to reports.