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"Lachlan will help us lead News Corp forward as we expand our reach and invest in new technologies and markets around the world," Rupert Murdoch said in the statement.

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http://mobile.reuters.com/article/topNews/idUSBREA2P0JQ20140326?irpc=932

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My perception is that it means : strengthen our powers and abilities.

  • The part "and invest in new technologies and markets around the world" gives you a really good hint. – Helix Quar Mar 26 '14 at 13:42
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In this context, "reach" is a noun defined as "the extent or range of application, effect, or influence".

Here, the phrase refers to increasing the market share, and geographic availability of the business's products and services.

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picture of water with a silhouetted land

This picture shows an example because its geographical reach is expanded.The water and land are larger than some other lakes or rivers. In simple terms, expanding geographical reach means when people make things, normally places, larger than what it normally was.

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