Inquiry Into Stock Exchange Dealings In TV Shares
(N.Z. Press Assn.—Copyright) BRISBANE, April 2. The Postmaster-General, Mr A. S. Hulme, will withhold the issue of a licence for the new commercial television station in Brisbane, to Universal Telecasters (Queensland), Ltd., pending an ’nvestigation into share dealings on the Stock Exchange yesterday. The Brisbane Stock Exchange announced this today Yesterday, pandemonium broke out at the Brisbane Stock Exchange, in the first
trading of the 5s shares paid to 6d, after their listing. After scoring an opening high of 6s the shares finally closed at 3s lOd. Today, in a string of sales they edged down further to 3s. More than. 500,000 shares changed hands and in the first 20 minutes the rate was at about 14,000 a minute. The activity was described as being unequalled in any individual stock on an Australian exchange.
The Ansett group interests were reported to have been the main buyers of the shares. Some persons in Brisbane believe the buying group aims to obtain a 51 per cent holding in Universal Telecasters. Ansett, through its whollyowned subsidiary Austarama, holds the third commercial television licence in Melbourne, as well as shareholdings in companies which obtained additional licences in both Perth and Adelaide.
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Press, Volume CIII, Issue 30406, 3 April 1964, Page 11
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205Inquiry Into Stock Exchange Dealings In TV Shares Press, Volume CIII, Issue 30406, 3 April 1964, Page 11
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