A couple of media outlets yesterday reported on the PMP (parent company of magazine distributor Gordon and Gotch) takeover offer. The reports offered on a little more than we know already. here is the key additional information from Business Spectator:
PMP still hasn’t told us who is responsible for the $253 million takeover proposal that it informed us about almost two weeks ago. The Australian Financial Review believes that it’s a Brisbane-based, family-owned company that’s behind the conditional, non-binding proposal, which is being backed by US private equity.
On Gotch, it seems the company is looking at its operations and processes following recent staff losses. Hopefully this leads to a more equitable magazine distribution model for newsagents.