Seven takes cut in PMP Seven became a player in multiplatform media by investing $85m in a 50% stake in Pacific Publications, with magazine titles including New Idea, ThatÕs Life, Girlfriend and Home Beautiful, and 12.7% stake in PMP. The deal also ensured rival Publishing & Broadcasting Limited could not sew up the market with ACP swallowing the vulnerable Pacific. Val Morgan is cinema Val Morgan became the sole player in cinema advertising in Australia when its parent Television & Media Services bought the Media Entertainment Group in a $40m deal. The monopoly was approved by the ACCC at the same time as the IPMG/PMP merger was scuttled, but then we are talking about a medium that attracts less than 1% of the ad pie. SCB grabs and smashes Southern Cross Broadcasting was on the hunt for takeover targets in 2001 acquiring both regional TV player Telecasters Australia for $217m and radio stations 2UE, 4BC and Sky Radio for a further $90m. It then preceded to wield the axe, cutting several regional news services. OÕReilly takes Wilson & Horton Sir Anthony OÕReilly reminded everyone of his interests in the region ahead of a government review of media ownership laws, with the $809m acquisition of New Zealand media group Wilson & Horton by his APN News & Media. Is Fairfax next? Time into IPC UK So far AOL Time WarnerÕs 1.15 pound excursion into the UK magazine market, the takeover of the IPC Group, has had no impact on ACPÕs joint venture with IPC in Australia. With such illustrious titles as Practical Parenting, Bride To Be and English WomenÕs Weekly on the books here, no doubt Time will be sniffing around soon.
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