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Macquarie Media to raise $270m, split from parent

Tue Oct 27, 2009 5:39pm EDT

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SYDNEY, Oct 28 (Reuters) - Macquarie Media Group MMG.AX, a a fund which manages media assets, plans to raise A$294 million ($270 million) by selling new shares and to break free from its parent firm Macquarie Group Ltd (MQG.AX), Macquarie Media said on Wednesday.

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Macquarie Media is selling new shares at A$1.55 each, a 38 percent discount to its last traded price. (Reporting by Denny Thomas; Editing by Mark Bendeich) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))

($1=1.090 Australian Dollar)
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