Just a simple redirect to the main 7plus website would work until the domain expires.
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found this > certain transitional services will be provided by Seven to Prime for a 12 month period for the purposes of facilitating an orderly winding-up of Prime
Thank you for explaining this. Was confused as to why the company would be changing its name under a day before the acquisition occurs and it essentially becomes irrelevant.
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Well I wonder if anyone say this one coming…
Media proprietor Antony Catalano and backer Alex Waislitz are considering taking their regional newspapers and real estate classifieds businesses to the ASX boards in an ambitious plan involving what was Prime Media Group.
Antony Catalano supported Seven West Media’s bid for Prime Media. Now he’s trying to get his hands on Prime’s shell company. Jesse Marlow
It is understood the pair are considering a backdoor listing for their assets, including Australian Community Newspapers and 20-year-old real estate portal realestateview.com.au, in a deal that could see them also raise fresh capital from new and existing investors to try to grow both businesses.
The plan would see Catalano and Waislitz’s investment vehicle, WA Chess Investments Pty Ltd, take control of PRT Company Ltd, which is the shell company left behind from Seven West Media’s acquisition of regional television broadcaster Prime.
STAFF NOTE: I’ve reopened this thread to discuss this particular article - any other unrelated discussion will be removed
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How much would they ever be able to raise from community newspapers and a relatively unknown real estate site?
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If Catalano still has TV ambitions then I don’t understand why he’s not offering SCA some cash for their TV arm?
There’s a bit of cross over there and SCA are on the record saying their TV assets are available for the right price. Perhaps even Catalano can see owning regional 10 affiliates is a dud.
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Everyone has known that for 30 years.
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What would taking control of a remnant company that holds no assets do for them?
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It appears from the article that it gives them a vehicle to be listed without an IPO and may be able to take advantage of some tax matters
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It’s not really - it, along with RealEstate.com.au and Domain form the 3 major real estate sites in Australia. The vast majority of properties are listed on all 3.
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Yes but how many people have heard of it? I hadn’t until yesterday.
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Anywhere with an ACM masthead will have seen it (whether they’ve paid attention to it or not is a different story) - its replaced the Domain branding for ACM’s real estate sections
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It used to be owned by the Real Estate Institute of Victoria so was favored by real estate agents as it was cheaper to list on. It was used by many agencies to power the listings on their own websites. So it’s well known in the Victorian market, although would have a lower market share these days.
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Definitely not “relatively unknown”. Properties of most people I know who’ve been selling have been listed on that as well as domain.com.au. These are people in WA and NSW too, so not just Victoria.
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