AUSTRALIA’S NEW MEDIA GROUP CONSOLIDATED MEDIA GOES GANGBUSTERS ON THE STOCK EXCHANGE
December 14th 2007 03:17
New Australian media group, Consolidated Media Holdings, yesterday burst through the $3 billion barrier, and its shares have climbed 19 percent, or more than $500 million overall, since the start of last week, when it was first listed on the Australian Securities Exchange.
The Australian reports that the share price of CMH – which owns substantial stakes in pay-TV group Foxtel, Fox Sports, online recruitment leader Seek and Nine Network owner PBL Media – yesterday saw its largest hike since the split, rising 36c, or more than 8 percent, to $4.71.
The Australian reported, “The recent increases have catapulted CMH into the position of Australia's third-largest media company by market capitalisation, with the company's share market worth hitting more than $3.2 billion.”
- From MediaBlab
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