HT&E Appoints Another Acting Chairman, As Focus Turns To News Corp’s Stake

HT&E Appoints Another Acting Chairman, As Focus Turns To News Corp’s Stake
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Here, There & Everywhere (HT&E) has appointed a new acting chairman, following the departure of Robert Kaye last week.

Paul Connolly will take over the reins of the HT&E boardroom for the meantime, having been appointed as a non-executive director of the ASX-listed company in October 2012.

Paul Connolly

Paul Connolly

Speculation has been brewing has to who will become HT&E’s new chairman since Peter Cosgrove vacated the role in June shortly after the company’s proposed sale of its outdoor media business, Adshel, to oOh!media for $570 million.

Former Foxtel boss Peter Tonagh is tipped to take claim the boardroom job, but HT&E declined to confirm or deny his impending appointment.

The personnel changes in HT&E’s boardroom come as speculation swirls around the possibility of News Corp selling its 13.3 per cent stake (worth $115 million) in the company.

The Australian Financial Review reported that stock brokers have been looking to gather fund managers interested in making a bid for News Corp’s stake, convinced that the publishing giant is gearing up to offload its shares in HT&E.

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