Australian media magnate Packer dies at 68
Sydney: Australian media magnate, Kerry Packer has died in unexpectedly in his sleep on December 26. He was aged 68. Packer was the country's richest man with an estimated fortune of $4.5 billion.

His death has sparked concerns over succession issues as to who will succeed him at the helm of PBL Publishing and Broadcasting. PBL owns the Channel 9 TV station in Australia, most of the magazines and newspapers published in the country, gambling interests and Internet and financial related businesses.

There was no official announcement as to the cause of death. Packer continued to lead his media empire after several major health problems. In 1990 Packer had a heart attack whilst playing polo. He also had a kidney transplant.

Packer's son James has been seen taking more responsibility within the PBL company.
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