Sydney - Consolidated Media Holdings Limited (CMH) has announced that it has received a conditional and nonâ€binding proposal from News Limited (News) to acquire CMH at a price of US $3.50 cash per share by way of a scheme of arrangement on a CMH board – recommended basis (the Proposal). If the acquisition goes through, the Rupert Murdoch-owned News Corp will own 50% of Foxtel, Australia’s largest Pay-TV business. The proposal is subject to a number of conditions. These … [Read more...] about News Corp to buy Consolidated Media Holdings
Consolidated Media Holdings
Seven, Consolidated Media Holdings battle for Foxtel
Australia - Seven Network Ltd raised its stake in Consolidated Media Holdings Ltd. (CMH) from 4.8% to 18.32%, in what is seen as an effort to gain influence over leading pay-TV operator, Foxtel. CMH also has stakes in Fox Sports as well as the internet job site Seek. Seven is headed by billionaire Kerry Stokes, who is known for his desire to get into the pay-TV sector. Stokes paid A$234 million (US$181 million) for 82.91 million shares in CMH, which itself has a 25% stake in Foxtel. Telstra … [Read more...] about Seven, Consolidated Media Holdings battle for Foxtel
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