Original article by Leo Shanahan, Nick Tabakoff, Zoe Samios
The Australian – Page: 17 & 28 : 10-Dec-19
Seven West Media has offered a fully franked special dividend of $0.03 per share for regional affiliate Prime Media Group, in addition to the initial offer of 0.4582 of its shares. However, two of Prime’s biggest shareholders – WIN Corporation owner Bruce Gordon and Australian Community Media’s Antony Catalano – will oppose the bid. The former has stated that Australia’s outdated media ownership laws have stymied rival bids for Prime, while Catalano has reiterated his interest in acquiring Prime in order to build ACM into a diversified regional media group.
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, AUSTRALIAN COMMUNITY MEDIA