MediaWorks phoenix ready to rise, minus The Simpsons

Wed, 06 Nov 2013

Nov. 7 (BusinessDesk) – Struggling broadcaster MediaWorks will take on a new life tomorrow after a recapitalisation exercise that will reduce the company’s debt from more than $700 million to around $100 million while radically altering its television content arrangements. The receivers for MediaWorks Group, Michael Stiassny and Brendon Gibson of Korda Mentha, confirmed the settlement of the sale and purchase agreement, with newly constituted MediaWorks Holdings (MWH), will occur tomorrow. The MediaWorks receivership was announced in June, bu...

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