WAN-IFRA

Shaping the Future of the Newspaper

Date

Fri - 25.05.2012


MacQuarie Media sells digital TV stakes

MacQuarie Media sells digital TV stakes

Although MacQuarie Media Group won a court battle with Australia's media regulator last week over digital licenses in Darwin and Tasmania, the group still decided to sell its digital TV station licences late Monday, The Australian reported Tuesday.

MacQuarie Media's 50 percent stake in Darwin Digital Television was sold to Paul Ramsay's Prime Media Group, a regional affiliate of Seven Networks. Its 35.1 percent stake in Tasmanian Digital TV was sold to Bruce Gordon's WIN Television.

The Australian Communications and Media Authority told MacQuarie Media it must sell its stakes in digital licences in the two places by the end of the day Monday, and the country's Federal Court had agreed. However, MacQuarie Media won an appeal, leading many to believe it would not offload its stakes, according to The Australian.

On Monday, however, the ACMA announced it was still deciding whether "to seek special leave to appeal to the High Court," which led to MacQuarie Media selling its stakes to avoid possible penalties if the ACMA won a possible High Court appeal.

MacMedia will continue to own 15 percent in the Tasmanian station, and will gain a 50 percent holding in Mildura's digital station from Prime in place of its Darwin Digital stake, The Australian reported.

Author

Leah McBride Mensching

Date

2009-01-20 06:02

Shaping the Future of the Newspaper


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