Australian-Media.com.au News

• WIN Television expected to bid on STW-9

  March 20 2007 5:44pm (UTC+8)  -  Article by Kevin

  The drama surrounding the sale of STW-9 (Channel Nine Perth) is continuing, with regional broadcaster WIN Television expected to outbid the recent offer made by PBL Media. Bruce Gordon, the owner of WIN Television, confirmed yesterday in the NSW Supreme Court that he is considering making a higher offer.
  
  PBL Media, the recently formed joint venture between PBL and CVC, struck an agreement in mid-February with Sunraysia Television Ltd for the purchase of its wholly owned subsidiary Swan Television and Radio Broadcasters.
  
  WIN has taken Sunraysia to court over the board's decision to recommend shareholders accept the PBL deal - at less than $12.00 a share ($136 million). Speculation suggests that WIN wants to offer $13.85 a share ($158 million) for full control of the station.
  
  WIN plans to stop the company from holding a shareholder meeting next week where the board will have the opportunity vote on the PBL deal.
  
  Australian-Media.com.au