A luxury yacht belonging to Australian media magnate Kerry Stokes has been robbed by "armed pirates" in Papua New Guinea who stole phones and laptops before escaping.
The billionaire boss of Channel Seven flew into Madang on the east coast of PNG with his family on Friday.
Mr Stokes's luxury yacht arrived from Cairns on Wednesday and was anchored off Kranget Island after refuelling at a nearby marina, said former Madang governor and owner of the Madang Resort Hotel, Sir Peter Barter.
"In the early hours they were boarded by armed pirates and robbed," Sir Peter said in an email obtained by the ABC.
He said the thieves stole watches, mobile phones, laptops, diving equipment and cash.
It is not clear whether Mr Stokes and his family were on board the yacht at the time of the robbery. There were no reports of injuries.
"Naturally they wanted to tour Madang but after this incident they locked themselves aboard their motor yacht," Sir Peter said.
A government official in Madang confirmed the incident had taken place.
PNG's minister for tourism is expected to release a statement later today.
Police are reportedly investigating but could not be reached for comment.
The armed robbery is the latest blow to PNG's tourism industry.
A year ago, local villagers armed with machetes, spears and guns attacked a trekking group on the Black Cat track in Morobe province, killing three PNG porters and injuring several Australian and New Zealand hikers.