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Tuesday, 16 February 1971


Senator WILLESEE asked the Minister representing the Postmaster-General, upon notice:

Has the newspaper 'TheWest Australian" recently negotiated the sale of the bulk of its 600,000 shares in television station TVW Ltd; if so, to whom werethe shares sold and what are the implications both to the buyer and seller in the transaction of that sale, in terms of the Broadcasting and Television Act.


Senator Dame ANNABELLE RANKIN - The Postmaster-General has provided the following answer to the honourable senator's question:

West Australian Newspapers Ltd has disposed of 575.000 of the 600,000 shares it held in TVW Ltd at the time of the takeover of West Australian Newspapers Ltd by the Herald and Weekly Times Ltd to 56 individual persons. Those who acquired 15.000 shares or more were as follows:

 

As a result of the acquisition of shares as set out above, Tasmanian Television Ltd and the Mutual Life & Citizens Assurance Co. Ltd have each acquired prescribed interests, within the meaning of Section 91 (2) of the Broadcasting and Television Act 1942-1969 in the licence for station TVW. There is no objection to the acquisition of such interests by these two companies as no contravention of the law is involved. At the same time, the sale of the 575,000 TVW shares and some other investments of West Australian Newspapers Ltd. rectified the contraventions of the provisions of the Broadcasting and Television Act 1942-1969 by the Herald and Weekly Times Ltd, in respect of the licences for commercial television station TVW Perth, BTQ Brisbane. ADS Adelaide, which resulted from the take-over by that company of West Australian Newspapers Ltd.







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