John Singleton Not Looking To Sell Macquarie Media Stake

John Singleton Not Looking To Sell Macquarie Media Stake

Aussie businessman John Singleton isn’t looking to offload his stake in Macquarie Media, but has admitted it still has a price tag.

Singleton is the second biggest shareholder of Macquarie Media with 32 per cent, behind Fairfax’s 54.5 per cent stake.

He has given the publisher’s deal with Nine his blessing, confident of benefitting from a big increase in revenues as a result, and isn’t seeking to get out of Macquarie despite receiving regular offers, according to The Australian.

“I get approaches every six weeks from various entities… the joint venture with Fairfax has worked beyond expectations,” he told the News Corp publication.

“But, obviously there’s a price. Most things are for sale.”

Singleton’s comments come as Seven West Media basically counted itself out of mounting a rival bid for Fairfax.

Of course, the deal itself still needs to be approved by the ACCC, which has promised to loom at it “extremely carefully”.

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