Vale Paul Ramsay
Paul Ramsay, the former Chairman and majority shareholder of Prime Media, has died overnight in Bowral.
Ramsay had been admitted to hospital in Europe early last week in a serious condition following a severe heart attack, and was flown back to Australia.
Along with his investment in Prime Media, which he sold in March, Ramsay was a highly regarded, and extremely successful, businessman and philanthropist with personal wealth of $3.7 billion.
At the time when Ramsay sold out of Prime Media he commented:
“I have been privileged to have played a part in the success of Prime Media as the market leading provider of free to air television in regional areas of NSW, Canberra, Victoria, the Gold Coast and Western Australia."
Ramsay's investment in Prime Media began in 1983, and he led the expansion of the network to hold a truly national, regional television footprint which has been highly profitable. The radio investments were less successful, with Prime acquiring a number of Queensland radio stations in the mid-2000's, and then onselling the network to Grant Broadcasters in 2013.
Prime Media CEO Ian Audsley released a statement this morning acknowledging the passing of Paul Ramsay, saying:
"It is with great sadness that the directors and staff of Prime Media Group acknowledge the passing last night of its former Chairman and founder, Mr Paul Ramsay AO.
Paul Ramsay was a true gentleman. Prime is honoured to have had the opportunity to work with a man of his stature.
For twenty nine years, Paul served as the Chairman of Prime and played a significant role in the growth of regional television in Australia. It is a very sad day for the directors and staff of Prime who came to know and respect Paul during his tenure. He was held in high regard by all who met him.
Paul was a philanthropist, a generous benefactor, a kind friend and a supportive colleague. We offer our sincere condolences and deepest sympathy to his family, his colleagues and the staff at Ramsay Health Care and Paul Ramsay Holdings, and his many dear friends.”
Paul Ramsay was known for, although very shy about, his philanthropic endeavours and he supported a number of foundations with generous donations.
Paul Ramsay was 78.