Pacific buys magazines (From Rupert Murdoch)

Khephra

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Mon Jul-12-04 01:13 PM
Original message

Pacific buys magazines (From Rupert Murdoch)

Pacific buys magazines

13jul04

MAGAZINE industry consolidation lifted a notch yesterday when Seven Network's Pacific Publications finally sealed a deal to buy Murdoch Magazines.

Pacific will pay Handbury Holdings, Murdoch Magazines' holding company, $77 million in cash and scrip for its business.
The titles sold as part of the deal include Men's Health, marie claire and Better Homes and Gardens.

The sale price was as much as double what some industry insiders had been expecting.

http://www.heraldsun.news.com.au/common/story_page/0,5478,10119687%255E664,00.html

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belle

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Mon Jul-12-04 03:41 PM
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1. Huh. What's the deal with Pacific, politically? Anyone know?

Who's at the reins there?

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SoCalDem

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Mon Jul-12-04 03:58 PM
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2. Uh-Oh..Why does Rupert need $77M..what's he planning??

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Nevernose

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Mon Jul-12-04 04:04 PM
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3. You mean BESIDES global domination?

What could possibly be left?

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Robbien

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Mon Jul-12-04 04:36 PM
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4. It could be that Rupert has to sell because if he moves to the US

non-Australians are prohibited from owning too big a percentage of Australian media.

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