Shares in HT&E took off after the owner of ARN radio network announced a deal to settle a tax dispute with the ATO.
A short time ago, the shares were up almost 33% to $1.955.
The company had earlier today said it settled with the ATO for $71 million.
The company says the binding heads of agreement was made in consultation with HT&E’s taxation advisers and is considered a fair and reasonable outcome.
"Whilst HT&E remains satisfied that its treatment of the branch matter was consistent with relevant taxation legislation, the Board views the settlement arrangement reached with the ATO as being in the best interests of shareholders," the company said in a notice to the ASX.
The dispute, over the tax treatment of a New Zealand branch, has been running since 2018 and cpould ahve cost the company as much as $195 million.
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