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.