Nine Entertainment has reportedly proposed some legislative amendments to get around the reach rule so a Southern Cross Media merger can become a reality – but that probably won't be on the cards in the near-term given the state of things in Canberra. Parmalat has warned farmers of the Murray Goulburn Co-Op deal with Coles, which probably isn’t surprising given that they’re the ‘middle men’ Wesfarmers is targeting. Elsewhere, Murchison is inching towards a buyback and China’s ASX-listed Norton Gold Fields looks to make a purchase.
Nine Entertainment, Southern Cross Media
Nine Entertainment boss David Gyngell is reportedly still pushing for the reach rule to be either removed, or its grip to be loosened.