Ann: Prime and Seven enter into Scheme Implementation Deed, page-10

Hey, maybe its all not lost?
Because there is no premium being paid by Seven for PRT, it always leaves the door open to another bidder.

this just now in The Aust.
Good luck guys.

Extract only
Antony Catalano could challenge Seven West Media’s Prime takeover

Former Domain Group boss Antony Catalano is believed to be threatening to derail the takeover of Prime Media Group by Seven West Media.

Mr Catalano holds just under 5 per cent of the regional broadcaster and is understood to have been an eager buyer, wanting to compliment his regional newspaper business.

However, his plans to buy Prime have been thwarted by Seven West’s move and he is now expected to be putting up a fight to stop the deal proceeding, potentially lifting his stake.

The top media executive was recently the buyer of Nine Entertainment’s regional newspaper portfolio, which it had inherited through its Fairfax Media acquisition.

With backing from Alex Waislitz’s Thorney Investment Group he had spent $125m for the mastheads, which includes The Canberra Times and The Newcastle Herald in April.

It is understood that Mr Catalano sees synergies in bringing regional television and newspapers together.

Anchorage Capital Partners was an underbidder for the Nine Entertainment regional newspaper division, and DataRoom can reveal that the private equity firm had been teaming up with James Warburton and CVC to buy Prime before Mr Warburton was hired as the chief executive of Seven West Media.

Mr Warburton’s plan to for Seven West to buy Prime was exclusively revealed by The Australian’s DataRoom column on October 4.