Business Services Industry
Rich pay for star managers.
Australasian Business Intelligence, December, 2005
Byline: Tony Boyd
Dec 14, 2005 (The Australian Financial Review - ABIX via COMTEX) -- Austar United Communications senior management have taken the opportunity to repay interest-free loans issued to them by
the company in 2003. The 13 members of the management team, including CEO, John Porter, sold about 30 million shares in the Australian pay TV group to media mogul John Malone for $A1.15 each. They used about $A10 million of the proceeds to repay the loans. Austar's employee share plan aimed to provide
equity incentives similar to those used in Castle Harlan Australian Mezzanine Partners' investment in private businesses.
Publication Date: 15...
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