News Corporation chairman Rupert Murdoch has been in neighborly discussions with Australian telecoms giant Telstra on "how the two companies can work together" in the internet age.

Murdoch, erstwhile Australian who last November exported his global media empire to the more business-benign climes of Delaware USA, moseyed-on over to the backyard of Telstra ceo Sol Trujillo for a "get-to-know-you meeting".

The latter recently announced that Telstra would invest A$10 billion ($7.4bn; €6.3bn; £4.3bn)) over five years on a broadband network to redirect the company's business towards faster-growing services.

It is reported the Murdoch-Trujillo discussions ranged over the future of Australian pay-TV platform Foxtel, in which both companies have a stake.

Analysts also believe the moguls would have pondered Telstra's imminent launch of a movie download service for broadband subscribers - possible competition for Foxtel's own movie services.

Data sourced from Financial Times online; additional content by WARC staff