Oaktree puts $2 mln collar on Weldon's MediaWorks management

Tue, 26 Apr 2016

By Jonathan Underhill April 26 (BusinessDesk) - Oaktree Capital, the US hedge fund that owns MediaWorks Investments, has imposed restrictions on spending or liabilities the media company's executives can incur without recourse to the board. The MediaWorks constitution sets a $2 million annual limit on any new investment, liabilities, or litigation by chief executive Mark Weldon and his team that hasn't been approved by directors. The constitution, prepared with the help of law firm MinterEllisonRuddWatts, replaces the version from 2013...

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