Today the ACCC will hand down what’s expected to be a negative verdict on the request by Kerry Stokes to increase his stake in Consolidated Media Holdings. With CMH’s 25 per cent stake in Foxtel seemingly headed for News Limited, Nine Entertainment won a concession from mezzanine lender Goldman Sachs yesterday, but will it be enough for its senior lenders? Also Echo Entertainment might be tweaking its tune as billionaire stalkers James Packer and KT Lim build their warchests, while Frank O’Halloran will be heading to chair Steadfast with what on the agenda? Acquisitions of course!
Seven Group Holdings, Consolidated Media Holdings, Foxtel
The consumer watchdog is set to rule Kerry Stokes’s desire to make a play for James Packer’s Consolidated Media Holdings, but it’s unlikely that the media billionaire will enjoy the answer.