THE NEWS WRAP: Lachlan Murdoch takes full control of DMG Radio Australia

Lachlan Murdoch has upped the ante in the media magnate stakes by taking full control of DMG Radio Australia, owner of the Nova and SmoothFM radio brands.

Murdoch’s investment firm Illyria will pay around $120 million for the half of DMG that it doesn’t already own.

Murdoch says that DMG’s pre-tax earnings had doubled since his initial investment, a stark contrast to the struggles of his other major media interest, Ten Network.

Over 55s would boost economic output: Report

Australia’s economic output would spiral by as much as $48 billion if more people aged over 55 were encouraged to stay in work, a new report has found.

According to The Australian Financial Review, the Deloitte Access Economics study found that national income would rise by 2.4% over the next 12 years if 5% of over 55s were persuaded to remain in the workforce.

The eyes have it at tech trade show

An eye-controlled television is one of the highlights of Berlin’s IFA trade show, which is showcasing some of the world’s most cutting edge technology innovations.

Swedish firm Tobii, which already makes eye-tracking technology for computers, has turned its attention to TVs with the Gaze range.

Users stare at the top or bottom of the screen to activate a control panel which allows them to change the channel or adjust the volume.

Markets

The Dow Jones Industrial Average was up 90.13 points, or 0.69%, to 13,090.84 on Friday. The Australian dollar slipped to US102.86 cents.