I wouldn't read into it too much, mainly because most of it...

I wouldn't read into it too much, mainly because most of it doesn't make much sense. Whether PRT takes over SWM or SWM takes over PRT it still works out to be a merger of the two companies that have had a long and solid relationship working together.

The other point about WIN becoming an affiliation partner with Seven instead of Prime is also very unlikely. Firstly, Kerry Stokes is a substantial holder of PRT and is unlikely to shoot himself in the foot by getting involved with the privately owned WIN corporation even if the affiliation terms were 50 cents in the dollar. Secondly, PRT is a great income producer for SWM and under the reformed media laws why settle for 50 cents when they can now, with a merger, get 100 cents in the dollar.