Murdoch lowers price on estate

Media tycoon Rupert Murdoch has lowered the price of his 5-acre estate on Centre Island (a Nassau peninsula) by $2 million. The 10,000-square-foot waterfront home, originally priced at $14.8 million when it hit the market last June, is now selling for $12.8 million. Murdoch would still profit despite the price drop. He purchased the 11-bedroon, 7.5 bath home for only $7.8 million in 2003. The estate also features a pool, tennis courts and 260 feet of beach frontage.