Destra buys Payless for $8.7m 11:50, Friday, 30 June 2006
Sydney - Friday - June 30: (RWE Australian Business News) - Digital media company destra Corporation Limited (ASX:DES) announced today the $8.7 million acquisition of music and video content publisher and distributor, Payless Entertainment Limited. Destra Corporation is now the largest independent CD & DVD entertainment company in Australia, with the combined assets of Rajon Music, Rajon Vision, VEG and now Payless Entertainment. Payless Entertainment is the leading Australian budget audio and video content publisher and distributor. Payless Entertainment is expected to generate approximately $2.5m in Earnings Before Interest and Tax (EBIT) profit in the 2005-06 financial year.
DES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
