Appears to be a red hearing...

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01/11/16

06:38

Post #: 20270000
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Originally posted by usagi44 ↑

Just posted on a separate thread regarding Peter Costello's large stipend as NEC chairman, as reported today by The Australian. Meanwhile, the Media Diary segment of same newspaper today mentions potential asset sales involving spinout of Fairfax assets into Nine. It's poorly sourced hearsay, but for those who are interested, here is an extract and link to the full article. I note the share price has barely moved thus far this morning.

Recent talks between [Nine and Fairfax] are understood to have focused on potential asset sales. Sources said talks were largely focused on Fairfax spinning out assets into Nine, in exchange for an equity stake of 25 to 30 per cent in the TV network. Under this scenario, Fairfax would retain the high-flying Domain real estate listings business and offload its stake in 2GB owner Macquarie Media. Such a transaction, although not imminent according to our sources, would also involve Nine taking ownership of Fairfax’s events business, the rest of streaming service Stan and, potentially, the metropolitan mastheads, the Sydney Morning Herald and The Age. One insider described the structure as somebody’s “thought bubble” that was “certainly not coming from Fairfax”. Fairfax is also open to selling its regional newspaper assets if the price is right. Fairfax and Nine declined to comment. The deal is predicated on the abolition of the cross media ownership cap, a key component of the Turnbull government’s reform bill.

http://www.theaustralian.com.au/bus...n/news-story/e34b398704cf88eb84b8f14633bec438

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Appears to be a red hearing...

NEC Price at posting: 86.0¢ Sentiment: Sell Disclosure: Not Held
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Appears to be a red hearing...

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