Thursday, August 25, 2022
HomeAustralian NewsFarewell to print — a billionaire plaything lastly hits the wall

Farewell to print — a billionaire plaything lastly hits the wall

However fear not for its homeowners — they’re going to come out of it simply superb. The journalists and printers, then again…

(Picture: Adobe)

The Australian printing and journal enterprise has been a plaything of assorted billionaires over time, from the Murdochs to the Packers to Kerry Stokes and the lesser identified Hannan household. Yesterday ASX-listed firm Ovato, previously often known as PMP, threw within the towel, appointing FTI as directors.

It has been a controversial 21-year experience as a public firm for PMP-Ovato however in the end Information Corp walked away with greater than $1 billion funded by unbiased shareholders who’ve now misplaced the lot.

There have additionally been moral questions for the Hannan household, significantly after it orchestrated a 2016 merger with PMP which transferred massive redundancy liabilities right into a much less properly capitalised public firm whereas retaining personal management of the property holdings in its print empire.

Learn extra about the way it all went down, actually.

Already a subscriber? .
Or, register your e-mail handle for a FREE 21-day trial.



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments