CONTINUED SPECULATION THAT AUSTRALIA’S CONSOLIDATED MEDIA HOLDINGS WILL BE BOUGHT… OR WILL BUY
December 17th 2007 23:07
Speculation still abounds that Australia’s newest company, Consolidated Media Holdings, formerly James Packer’s PBL, will the subject of a takeover.
The Australian Financial Review today reports that, “Telstra and News Corporation are consistently being tipped as logical buyers of the stand-alone media group, with broker Merrill Lynch running through its reasoning for corporate action as it initiated coverage yesterday.”
Meanwhile Merrill Lynch also suggests that Considered Media Holdings itself could be on the hunt for acquisitions with $90 million net cash sitting in its coffers.
- From MediaBlab
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