$23m for Murdoch home

SYDNEY - Lachlan Murdoch, News Corp's deputy chief operating officer, and his wife Sarah sold their Sydney waterfront home for as much as A$22 million ($23.6 million), making more than A$9 million profit on the sale, the Australian Financial Review said.

The couple sold the house because it wasn't suitable for their son Kalan, who was born in November, the Sydney-based newspaper reported. The Murdochs had bought the home at Point Piper six years ago for A$12 million. It sold after only three weeks on the market, according to the report.

The most expensive home ever sold in Australia was Altona, another house at Sydney's Point Piper, which fetched A$28 million in 2002, the Financial Review said.

- BLOOMBERG