Oaktree Capital ups MediaWorks stake as Rabo exits

Sun, 17 Nov 2013

By Paul McBeth Nov. 18 (BusinessDesk) - US hedge fund Oaktree Capital, which is in the process of floating Australia’s Nine Entertainment, has lifted its stake in local free-to-air broadcaster MediaWorks, whose stable includes TV3 and Four, and radio stations including the Rock, MoreFM and RadioLive. Los Angeles-based Oaktree, which manages US$79.8 billion of assets worldwide, increased its ownership of the broadcaster’s ultimate holding company, MediaWorks Investments, to 43 percent on Nov. 8, taking on Rabobank’s 14.6 percent stake, accor...

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