When you look at what Lachlan Murdoch and James Packer have achieved at the youthful Ten Network, it's hard not to let one's mind drift back to One.Tel, where the dynamic duo lost almost $1 billion of their families' money in Jodee Rich's mobile phone company in 2001.

But the big difference this time around is that Lachlan has actually been running the show for much of the time, and it is his own money, rather than his dad's, going down the gurgler.