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All Press Releases for August 31, 2003 Subscribe to this News Feed    
 

RADIO STATION DIVESTMENT

Australian Radio Station investment to be sold.

ADVENT SINGAPORE, SALE OF AUSTRALIAN RADIO STATION HOLDING, DCL

Singapore --- August 29, 2003 -- The directors of Advent Television Ltd have decided to divest the entirety of their shareholding in Australian radio station operator Data & Commerce Ltd (DCL).

Advent Television Ltd is a shareholder of approximately 17% of capital in DCL. DCL is listed on the Australian stock exchange. The divestment process will commence immediately. The sale will be on-market to the first acceptable bidder for the entire parcel of shares.

DCL owns 100% of two radio stations comprising Melbourne metropolitan radio licenses 3AK and 3MP. DCL has recently fully reequipped the production and broadcast facilities and also the Victorian Radio Network News operation.

Mandated to manage the sales process is:

Roger Colman
Director
CCZ Equities Pty Limited
Level 18, 9 Hunter Street
Sydney NSW 2000
Australia
Telephone: +61 2 9238 8222
Mobile: +61 414 974 666
Facsimile: +61 2 9231 0822
E-Mail:   rcolman@cczequities.com.au

All enquiries should be directed to Mr Roger Colman at CCZ Equities.


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CONTACT INFORMATION
Jeff Chatfield
Advent Tv Ltd
+65 62522077
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