Kerry Stokes News
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UMW Holdings Bhd., Malaysia’s biggest carmaker and assembler, is among companies studying bids for Coates Hire Ltd., the Australian equipment rental company part- owned by Carlyle Group LP, two people with knowledge of the matter said.
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KKR & Co. sold its 12 percent stake in Australia’s largest free-to-air broadcaster Seven West Media Ltd., ending an investment that began in 2006.
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Rupert Murdoch, Kerry Stokes and James Packer have veered from allies to bitter enemies over the years as each jockeyed to expand their Australian media empires. The three billionaires are at it again.
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Kerry Stokes made his first billion dollars operating television stations and selling dump trucks in his native Australia. Now, he’s betting a chunk of that fortune on a bank that operates in the backwaters of rural China.
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No television broadcaster in the developed Asia-Pacific region is tempting its owners with a cheaper buyout opportunity than Seven West Media Ltd.
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Kerry Stokes may gain an unfair advantage for sports rights if he takes over an Australian pay- television business for which Rupert Murdoch’s News Corp. has offered A$1.94 billion ($2 billion), the regulator said.
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Seven West Media Ltd., controlled by billionaire Kerry Stokes, jumped the most since July in Sydney trading after Royal Bank of Scotland Group Plc said the television broadcaster’s owners may attempt a buyout.
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News Corp.’s A$1.94 billion ($2 billion) offer for pay-television company Consolidated Media Holdings Ltd. gained Kerry Stokes’s support after the billionaire’s Seven Group Holdings Ltd. was blocked from bidding.
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News Corp. agreed to buy Consolidated Media Holdings Ltd. for A$1.94 billion ($2 billion) to boost its stake in Australian pay television as billionaire Kerry Stokes weighs making a counter-offer.
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Billionaire Kerry Stokes will combine West Australian Newspapers Holdings Ltd. with Seven Media Group in a $2 billion takeover, creating the nation’s biggest media company with the top-rated TV network and more than 25 magazines.
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