AFR speculates about Nova sale
The Australian Financial Review has again speculated on a possible sale of the Nova Entertainment group (see here).
The AFR’s Jake Mitchell writes that a potential scenario involves Lachlan Murdoch selling the relatively mature Nova business to Kerry Stokes’ Seven Group. This would be allowed under current media laws.
Mitchell goes on to say that Murdoch has allowed bankers to sound out the market on his behalf.
That said, the last time this speculation arose, Lachlan Murdoch distributed a memo to staff strongly denying that the radio business was for sale, saying at that time:
“A small number of you may have read in the Financial Review this morning that I am selling Nova Entertainment Group…..I have no intention to sell Nova Entertainment.”
There has been no public comment from Nova Entertainment at this time.