Newspaper share deal
NZPA Perth Robert Holmes Acourt’s media company, TVW Enterprises. Ltd. has sold its 2.1 M shares in the Sydney newspaper publishing firm, John Fairfax. Ltd, to the New South Wales Local Government Superannuation Fund for almost sAust4M. Mr Holmes Acourt has confirmed that the shares were sold to the fund for $1.90 each, representing a book profit of about $400,000 plus dividends of about $50,000. The parcel is 4.2 per cent of the issued capital of John Fairfax. The TVW chairman and chief executive said the shares were not put on the market but TVW had been approached in recent weeks about selling its Fairfax and Herald and Weekly Times holdings.
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Press, 3 December 1982, Page 17
Word Count
114Newspaper share deal Press, 3 December 1982, Page 17
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