M&A talk as Gordon lifts Prime interest

Original article by Dana McCauley, Bridget Carter
The Australian – Page: 21 : 2-Feb-18

Sources have indicated that WIN Corporation owner Bruce Gordon has increased his stake in Prime Media Group from 14.99 per cent to 24 per cent. The transaction, which is believed to have been carried out via cash-settled equity swaps, has prompted speculation that Gordon could seek to merge the two regional TV broadcasters in the wake of cross-media ownership reforms. Meanwhile, Perpetual has reduced its stake in Prime from 13.1 per cent to 7.4 per cent.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, PERPETUAL LIMITED – ASX PPT, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, DEUTSCHE BANK AG

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