Lachlan Murdoch—son of media mogul Rupert—purchased this heavily modified 1951-built ranch in lower Bel Air this summer. The Balinese-inspired 4,770 square-footer was, until very recently, the home of former supermodel Cheryl Tiegs; Ms. Tiegs took $14.1 million for the property.

The house is next door to Lachlan Murdoch’s spendier recent Los Angeles-area residential acquisition: Chartwell, the one-time estate of deceased fellow media mogul Jerry Perenchio. Chartwell was designed to be the most impressive house in Los Angeles, if the criteria for being duly impressed include over-the-top grandiosity. Mr. Murdoch spent a cool $150 million for the house. The Tiegs home might be intended to act as both privacy buffer and guest home for the Fox CEO.

The home’s interiors establish and sustain the Balinese style, with carved wood, lanterns, and textured wall covering helping to set the atmosphere. In the great room, stout support posts, a fireplace, and dark plank hardwood are featured details. The kitchen features black and white tile, a butcher block-capped island, cabinet doors with thatched cane panels, and an ornate ceiling.

The home’s four bedrooms and five baths culminate in a master suite with a sitting room, a fireplace, and a spa bath. Outside, the living space and landscaping has nearly an acre and a half to develop—plenty of space to fit a pool, water features, walking paths, and varied plantings.

Murdoch’s net worth is north of $2 billion.