Lachlan Murdoch is in advanced talks to pick up an equity stake in INX Media -- the company floated by Indrani Mukerjea, wife of former Star TV chief Peter Mukerjea, to set up a bouquet of news and entertainment channels.

If the deal goes through, it will be Lachlan's first investment through which he will take on his father Rupert Murdoch directly in the broadcasting space.

Sources say Lachlan Murdoch is meeting Indrani Mukerjea for discussions on the investment in INX Media. Mukerjea plans to launch 12 news and entertainment channels.

Indrani Mukerjea said, "I cannot comment on the issue."

Peter Mukerjea's presence at a press conference announcing Percept Holdings -- Lachlan Murdoch's joint venture for talent management -- also raised eyebrows as the two dashed off minutes after the press conference concluded.