Australia's Consolidated Media share trade halted

Sun Apr 6, 2008 8:12pm EDT
 
[-] Text [+]

SYDNEY, April 7 (Reuters) - Shares in Australia's Consolidated Media Holdings Ltd (CMJ.AX) were placed on a trading halt on Monday pending an update on a possible takeover bid.

Lachlan Murdoch, son of media magnate Rupert, and gambling magnate James Packer launched a joint bid for Consolidated, which owns 25 percent of pay-TV provider Foxtel among other media assets, in January.

The deal, possibly worth A$3.3 billion ($3 billion), ran into difficulty in March when key backer SPO Partners & Co withdrew. (Reporting by Miranda Maxwell)

 
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better