BREAKFAST DEALS: Reaching for Southern Cross

Nine Entertainment's reach rule prayers aren't likely to be answered anytime soon, while Parmalat dives into the milk wars.

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.

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