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Boral resists buyout bid from Stokes' Seven Group
Boral is urging shareholders not to take up an offer by Kerry Stokes’ Seven Group Holdings to buy out the building products and construction materials group.
Boral is urging shareholders not to take up an offer by Kerry Stokes’ Seven Group Holdings to buy out the building products and construction materials group.
Seven West Media is to merge with regional affiliate Prime Media in a $63.8 million all-scrip deal that Seven West chief executive James Warburton has called a “game changer” for advertisers wanting to reach both regional and metropolitan Australia.
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Seven West Media has been dragged to a full-year loss of $744.3 million by nearly $1 billion in writedowns and one-off costs.
Seven West Media chief executive Tim Worner will remain in his job after an investigation cleared him of explosive misconduct allegations made by a former employee with whom he had an affair.
Seven West Media says it will have an independent inquiry into damaging allegations made by a former employee who had an affair with network CEO Tim Worner in a bid to allay shareholder concerns.