The Nine Network has announced the death of one of Australia's richest men, Kerry Packer, aged 68.
Announcer Richard Wilkins said on the Today Show that he had just been handed official confirmation of Mr Packer's death at 68.
He said a statement from Tony Ritchie, Nine head of news, said: "Mrs Kerry Packer and her children James and Gretel sadly report the passing last evening of her husband and their father Kerry. He died peacefully at home with his family at his bedside".
Packer was the major shareholder in Publishing and Broadcasting Limited (PBL) which owns the Nine television network and Australian Consolidated Press, the producer of many Australian and New Zealand magazines.
Packer was also involved in the gambling and tourism industries and owned the Crown Casino in Melbourne.
In the 1970s, his World Series Cricket revolutionised cricket, bringing One-day cricket to the fore by introducing things such as coloured uniforms, white balls & day/night matches.
Business Review Weekly magazine estimated Packer's net worth at AU$6.5 billion in 2004. Another famous rich Australian media magnate, who may have lost his Australian nationality, is Rupert Murdoch.
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Australia's richest man dies aged 68