Business Services Industry
Media companies still seeking cash.
Australasian Business Intelligence, May, 2009
Byline: Jamie Freed
May 21, 2009 (The Age - ABIX via COMTEX) -- As the advertising sector continues to weaken worldwide, media groups in Australia and elsewhere are seeking to source fresh capital by issuing new scrip to investors. After its recent placement worth $A625m, Fairfax Media is now staging a stock repurchasing plan to cover as much as $A200m. APN News & Media's $A99m issue has had good success with institutional investors, and Ten Network majority owner CanWest has also issued new notes and obtained a debt facility in Canada.
Publication Date: 22 May 2009
FAIRFAX MEDIA LIMITED - ASX FXJ
APN NEWS AND MEDIA LIMITED - ASX APN
TEN NETWORK HOLDINGS LIMITED - ASX TEN
CANWEST GLOBAL COMMUNICATIONS CORPORATION
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