MELBOURNE “SUN”
REASONS FOR WITHDRAWAL
STRONG PREJUDICE AGAINST IT
CHAIRMAN'S STATEMENT
BY CABLE—PRESS ASSOCIATION—COPYRIGHT Received May 22, 10 a.m. SYDNEY, May 22.
Speaking at the animal meeting of the Sun ’ Ne.wsparer, Limited, the chairman explained the reasons lor the recent withdrawal from Melbourne. There had been strong prejudice against the Sun in Melbourne on the grounds that it was a Sydney institution It even went so far as attempts at job control. . . . However, arrangements had been made whereby ii was expected to ieceive back the full amount ol mo Devin vested. and perhaps a. little more.
The directors of.the Sun Newspaper, Itd of Svdney, addressed a circular to shareholders wherein they announced the sale of their Melbourne papers to the Melbourne Herald Company, they stated that the price, was a large one, and that the transaction was satistactorv to the Svdnev Company. ft is understood that the price received for the goodwill of the Melbourne papers was in the vicinity ol £175 000 Since the sale was announced shares in the Sydney Company have had a consiclerab’e rise‘in the market.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HAWST19250522.2.27
Bibliographic details
Hawera Star, Volume XLV, 22 May 1925, Page 5
Word Count
180MELBOURNE “SUN” Hawera Star, Volume XLV, 22 May 1925, Page 5
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