Crikey today published a story by Alex Mitchell about newsagent interest in purchasing a stake in NSW Lotteries. I mentioned this on May 1 when NANA, the NSW Newsagent’s Association wrote to members announcing its intention. The Crikey story has some interesting points:
Newsagencies in NSW have been complaining loudly about the forthcoming privatization of NSW Lotteries because of the impact on their revenue streams and the value of their businesses.
So they’ve decided to put in a bid themselves.
On Friday the Newsagents’ Association of NSW and ACT Ltd has a meeting with Treasurer Eric Roozendaal, former general secretary of the NSW Labor Party, who is leading the privatization push.
Under the bank-backed newsagents’ proposal, the government would retain a majority 51 per cent shareholding and the association the other 49 per cent.
Whether this gets up or not, it is goot to see newsagents taking a yes we can approach to such a challenge.
Can us Queenslanders get a slice of that action? Honestly I would be willing to put in my two bob for a small share.
What if you are not a member of NANA but are a nsw newsagent?
I’m not real keen on others speaking on my behalf without fully informing me of all the details first. Details such as cost to me, what will my commisions be now that I am a part owner or is NANA now the owner and it is up to them to decide whos in or out.
Too many questions unanswered for me.
Luke,
No one knows any details at this stage, however if NANA are negotiating to buy a part, you won’t be on any worse terms and also NANA have proven to be inclusive. At this stage it is only a bid.
How about members of our Marketing banner put in a certain sum each and our Marketing banner bid on our behalf?