What's New February 23, 2023

Approval granted for HT&E’s sale of Soprano stake

Reporter

ARN’s parent company HT&E has announced that approval has been granted by the Foreign Investment Review Board (FIRB) for the sale of its 25% interest in Soprano Design Limited.

As previously announced, HT&E will receive $66.3 million in cash as consideration for the sale.

There are no further conditions to the sale.

Completion is expected on 31 March, 2023.

Soprano is a technology company that supplies SMS, AI Voice and messaging services. The company has grown to be an important player in the new communications fields in recent years, bringing in good returns to HT&E in recent years.

HT&E, ARN’s parent company, operates radio, audio and digital businesses in Australia as well as outdoor assets in Hong Kong.