Monday, October 16, 2006
Media giants hit record highs
PUBLISHING and Broadcasting (PBL) shares joined News Corporation shares in hitting record highs today after the company said it was "constantly reviewing" all of its businesses and options amid speculation about the future of its core media assets.
Other media companies including news giant News Corporation (nws.ASX:Quote,News), publisher of NEWS.com.au, have also hit a record high with new media laws expected to loosen ownership restrictions allowing big media companies to gobble up smaller players.
Rumours surrounding PBL (pbl.ASX:Quote,News) include speculation that the company may sell the Nine Network, ACP Magazines and ninemsn to a private equity group, with speculation focused on US-based Newbridge Capital.
There has also been speculation that PBL may look at putting its media interests into a new listed media group.
Investment bank UBS is believed to be advising PBL on potential transactions in the sector, according to a report in today's Sydney Morning Herald.
Other media companies including news giant News Corporation (nws.ASX:Quote,News), publisher of NEWS.com.au, have also hit a record high with new media laws expected to loosen ownership restrictions allowing big media companies to gobble up smaller players.
Rumours surrounding PBL (pbl.ASX:Quote,News) include speculation that the company may sell the Nine Network, ACP Magazines and ninemsn to a private equity group, with speculation focused on US-based Newbridge Capital.
There has also been speculation that PBL may look at putting its media interests into a new listed media group.
Investment bank UBS is believed to be advising PBL on potential transactions in the sector, according to a report in today's Sydney Morning Herald.
