Billionaire media mogul Rupert Murdoch believes all successful companies are built by individuals,not boards or committees. Some of his children disagree.
Clothing group Mosaic Brands went into administration in late October with debts of at least $249 million.
The press baron’s companies are embroiled in court cases that need his attention,but that hasn’t stopped speculation he might be spending some time Down Under.
The former broadcaster’s status as a member of the Australian Media Hall of Fame is also in doubt following this week’s dramatic arrest.
Just over two years ago the acting Nine CEO was desperately ill and surgeons told him he might die.
Mosaic Brands,the retailer that owns clothing brands such as Katies,Millers and Noni B,will continue to trade. But the administration process puts at risk the jobs of almost 3000 employees.
The appointment of Kate Howitt,a funds manager of two decades,to the CBA board has caused consternation within board director circles.
A new series of damaging allegations have wiped $6 billion from the company’s market value and an estimated $2 billion from Richard White’s personal wealth.
Will the billionaires behind the Spotlight group be the White Knight that Mosaic Brands needs?
Lucas Klein,Janus Henderson Investors’ head of equities Asia Pacific,Europe,Middle East and Africa,said a strategic priority for the group was to grow in the Asia Pacific region.
A bidding war may break out for Platinum Asset Management,with prominent investor Geoff Wilson said to be among the parties interested in the funds management group.