It is believed that James Packer and Lachlan Murdoch are nearing a settlement over their dispute over their conduct as directors of dotcom bomb One. Tel.

Some have indicated that the long running dispute might be over soon. Officials indicated that the settlement discussions are revolving around the payments the two sides will make to settle the dispute. The settlement amount could be in the range of between $40 million and $50 million.

The amount is less than $244 million that was claimed by a special purpose liquidator Stephen Parbery, of PPB in the NSW Supreme Court. Mr Parbery has not confirmed that the discussions will lead to a settlement.

''There have been ongoing talks for some time and things have reached a very delicate stage. When you're in the process of having private discussions with people, if there's any hint that people are talking about that, it might end the discussions," he said.

Mr Murdoch has been chosen as the heir of his father, Rupert Murdoch's media empire. The settlement will allow him to move ahead with the giant media empire.