Business Services Industry
Media groups on lookout for possible acquisitions.
Australasian Business Intelligence, October, 2006
Byline: Lisa Murray
Oct 08, 2006 (The Sydney Morning Herald - ABIX via COMTEX) -- The Australian parliament is set to vote on reform of mass media laws in mid-October 2006. Some concerns have been voiced for diversity in regional and rural parts of Australia by senators such as the National Party's Barnaby Joyce, but the legislative amendments appear likely to be passed. Under the changes, a number of groups in the sector are forecast to pursue mergers and acquisitions, with analysts singling out News Corporation as a major player. It has hired investment bank Goldman Sachs JBWere as an adviser. Village Roadshow may be looking to divest some of its holding in the Austereo radio network. The stocks of several companies in the sector have already risen in the...
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