Original article by Lilly Vitorovich, John Durie
The Australian Financial Review – Page: 17 & 28 : 31-Oct-19
The Australian Competition & Consumer Commission will scrutinise Seven West Media’s takeover bid for regional affiliate Prime Media Group, with a decision on the $64m deal to be made on 18 December. Meanwhile, Antony Catalano and Alex Waislitz have built a 10.26 per cent stake in Prime, which would prevent Seven from compulsorily acquiring the company. Catalano says the Seven deal is not in the best interests of regional media. Catalano has also revealed that he held merger talks with Prime Media earlier in 2019. Catalano and Waislitz recently bought Nine Entertainment’s regional newspapers.
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMUNITY MEDIA, FAIRFAX MEDIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, SPHERIA ASSET MANAGEMENT PTY LTD, WA CHESS INVESTMENTS