I have no idea what will happen with PRT. the following is an...

I have no idea what will happen with PRT.
the following is an extract from AFR 19 Feb.
It says SWM still interested in M&A.
It includes a mention of PRT.
But how can SWM be interested in PRT if they sold down their big shareholding in PRT??
seems illogical.
Maybe, SWM figure they sold at 40c, and they can buy back into PRT (or merge) for a price less than 40c??
Now that makes sense. Though a pretty poor outcome for shareholders.
It makes sense that SWM can merge with PRT at a much lower valuation than when SWM sold out for - and them screwing PRT over the Broadcast rights would set PRT for a takeover/merger?

Anyway, PRT has stated its future lies in consolidation of media.

cheers

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Seven West Media chief executive Tim Worner said the company had suspended its dividend to pay down its debt and take part in media mergers following change to ownership laws last year.

"We've decided to temporarily suspend our dividend because in the event something comes along we want be in the best position to take advantage it," Mr Worner told The Australian Financial Review.

Last year's changes to decades old media ownership regulation has opened up the possibility of mergers, which would allow the coming together of metropolitan and regional TV broadcasters that could also operate TV, radio and newspapers in one company.

Seven has been linked to a deal with Fairfax Media, publisher of the Financial Review, and its regional affiliate Prime Media. But Seven's debt levels have been viewed as preventing Seven from being a major player in M&A transactions.

"There are a great deal of rumours. That's all it's been, is rumours for quite a long time now. But, when something does come along that makes sense for us, we want to make sure we're in the best position to take advantage of it," Mr Worner said.