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  • Stokes moves to sack The West Australian board

    February 25 2008 6:49am (UTC+8)  -  Article by Kevin

    UPDATED | Seven Network chairman Kerry Stokes has made moves to sack the entire board of West Australian Newspaper Holdings Ltd (WAN) - publisher of The West Australian newspaper.

    Seven acquired 19.4% of WAN last year, making it the publisher's largest shareholder.

    WAN says it was advised yesterday of Stokes' plans to call an extraordinary meeting of shareholders to consider the decision.

    Chairman Peter Mansell says that "board composition is a matter for shareholders".

    "Our duty in these circumstances is to act in the best interests of all shareholders by clearly outlining the issues so that shareholders can make fully informed decisions" he said.

    Seven says that it is "appalled at the lack of leadership of the board" and "the resulting performance of the company". The network says that it does not want to control WAN, however in a media release to the ASX it says that the board requires directors with "media experience".

    "WAN should continue to be an independent company that serves the interests of all its shareholders and the WA community" the network said.

    Details of the proposed resolutions to be put to shareholders are not yet available.

    Australian-Media.com.au

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  • timmy
    February 25 2008
    5:07pm
    #1 of 3

    Stokes calling The West the worst paper in the country! :clapping: :clapping: :clapping: :clapping: :clapping: :clap: :clap: :clap: :clap:

  • Kevin
    February 25 2008
    5:11pm
    #2 of 3

    timmy said:
    Stokes calling The West the worst paper in the country! :clapping: :clapping: :clapping: :clapping: :clapping: :clap: :clap: :clap: :clap:

    We all knew that before he said it, but I'm glad someone with his influence is finally saying it.

    We have to be careful though - while I am happy with TVW (even though some of you are not) - we don't want TVW having too much influence on The West Australian... it would be a disaster for media diversity in WA if that were to happen.

    Thankfully Stokes says he wants the board to remain independent, so that's something I guess :ermm:

  • Slj
    February 27 2008
    1:09pm
    #3 of 3

    WIN chief stirs the pot on WAN tilt

    State Government apparatchiks and miscellaneous media tragics are not the only ones getting excited about Kerry Stokes planned overhaul of the board at WA Newspapers Holdings, publisher of The West Australian.

    WIN Corporation boss Bruce Gordon told a HOTT operative he was thinking of getting a slice of the WAN action for himself during a visit to Channel 9s Perth studios this week.

    "Im very friendly with Kerry, hes an old friend," said Gordon, a Bermuda-based billionaire.

    "Probably one of these days Ill have to have a talk to him and maybe well have to talk about buying some shares in The West and coming in with him."

    Gordon was poker faced while making the comments, so we can only guess if he was pulling our operatives leg.

    The West


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