PERTH, Australia: Combative media mogul Kerry Stokes (pictured) has renewed with vigour his quest for control of West Australian Newspapers, upping his company's stake from 19.4% to 22.4%.
Stokes, chairman of the Seven Network, has been pursuing WAN since the beginning of the year, demanding that it ousts all non-executive directors and appoint him and his henchman Peter Gammell in their place – effectively ceding control of the firm.
WAN, led by chairman Peter Mansell, has so far successfully repelled the boarders, amid reports that it is seeking some kind of compromise with Stokes over board representation.
Stokes accuses the publisher of "self-indulgent" journalism, while Mansell concedes WAN is not "a perfect company" but is addressing problems associated with distribution and circulation.
Data sourced from Sydney Morning Herald; additional content by WARC staff