Further to our recent item on Village Roadshow (on 26th Sept) there has been another significant sell down of Austereo stock. Village have now disposed of a further 9.8 percent, down to 50.2 percent holding in Austereo. This is down from  67 percent hold just weeks ago.

Speculation that Austereo will be a quick takeover target upon media ownership law changes is now being fuelled by the further share holding trading.

While the Ten Network have long been said to being casting an eye over Austereo it has also now been suggested PBL’s Nine Network would be a front runner should the opportunity arise.

Bloomberg filed the following stock report: Austereo Group Ltd. (AEO AU) slid 7.5 cents, or 4 percent, to A$1.79. Village Roadshow Ltd. (VRL AU), Australia’s biggest cinema chain, cut its stake in radio broadcaster Austereo to 50.2 percent, fuelling speculation it may be a seller if law changes spark media takeovers next year. Village Roadshow climbed 6 cents, or 2.5 percent, to A$2.50.