Ascent seeks $1.8m to recapitalise WorldAudio

CORPORATE reviver Ascent Capital Pty Ltd is seeking $1.8 million to revive failed media player WorldAudio Ltd, which owns numerous analog radio licences and a facility at Geraldton. In a prospectus lodged with the Australian Securities and Investments Commission, the company – now renamed WAG Ltd – said it planned to use the funds to continue its ongoing operations and invest in the acquisition or development of new opportunities in the general media and communications industry. “The directors propose to continue broadcasting from the facility located at Geraldton, Western Australia and, over time, expand the activities of the company,” the prospectus states.

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