WA Newspapers Holdings has made a takeover offer for Geraldton Newspapers worth almost $13 million.
The proposed acquisition would include The Geraldton Guardian, the Mid West Mail, and Mid-West radio stations 98FM and 96.5FM, but would not include the group’s interest in West Coast Radio.
The Geraldton Guardian general manager Malcolm Smith said the company’s directors, Leyton and David Moustaka, Ian Willock and Ian Grant, believed the offer was substantial enough to put to the shareholders.
“The shareholders have been posted a letter today (Friday), which they will receive next week notifying them of a special general meeting to discuss the offer,” he said. “The meeting will be on May 17.”
The Moustaka brothers own almost a quarter of the company, while Mr Willock and Mr Grant own about 10 per cent between them.
