×
You will be redirected back to your article in seconds

Oz project’s IPO delayed

'Market conditions,' Y2K postpone Studio City offering

SYDNEY — A $166 million December public share offering for Melbourne’s A$400 million ($256 million) Studio City — Viacom’s first studio and theme park outside North America — has been postponed until the new year.

Viacom Oz rep Paul Hameister told Daily Variety the delay was due to “market conditions,” including possible Y2K glitches and the fact that the Oz capital market needed a breather after a recent massive public offering by public telco Telstra.

He said brokers J.B. Were remain “fully committed to the project” and that the IPO would occur by March after the issue of a prospectus and an institutional roadshow.

But speculation is rife that at least part of the reason is to allow Studio City to distance itself from recent criticism of the project by Oz entertainment major Village Roadshow.

Interestingly, Village will now reportedly run the cinemas at Studio City.

More Biz

  • IWC Schaffhausen store opening, Rodeo Drive,

    8 Luxury Gifts That Industry Leaders Are Spending Their Paychecks On

    Whether you’re celebrating a new launch, a new business venture, or toasting to the end of another successful year, here are eight gift ideas to reward yourself — and to impress the company you keep. 1. Saint Laurent Perforated Leather Tote Bag If you work in the industry, you need a good bag, and you’ve [...]

  • best airlines ranked inflight entertainment

    Holiday Travel Survey Reveals Airlines With Best In-Flight Entertainment

    There are many ways to pass the time if you’re in the air, but for most people, settling in with a glass of wine and a movie is the preferred way to fly. But not all airlines share the same script when it comes to entertainment offerings. A new survey from the website, CableTV.com, ranked [...]

  • Ventana Sur Rocks with Sales, Mass

    Ventana Sur Rocks with Sales, Mass Attendance, Structural Growth

    BUENOS AIRES — Celebrating its 10th anniversary with a huge hike in attendance to over 4,000 accredited delegates, the 2018 Ventana Sur will go down in history on multiple counts: Sales and pick-ups on movies which combined social comment and entertainment value, increasingly the new foreign-language movie standard; new sections, led by a Proyecta co-production [...]

  • Jennifer Lawrence Harvey Weinstein

    Harvey Weinstein Bragged of Sex With Jennifer Lawrence, Lawsuit Claims

    Harvey Weinstein was hit with a lawsuit Friday from an actress who claims he forcibly performed oral sex on her, repeatedly masturbated in front of her, and threatened to harm her career if she objected. According to the suit, Weinstein pushed her to the ground during a meeting in his office in 2013. He then [...]

  • Times Up Hollywood

    Time's Up Entertainment Announces New Industry Mentoring Initiative

    Time’s Up Entertainment, an affiliate of the Time’s Up coalition of women across industries working to improve workplace safety, has announced the “Who’s in the Room” industry mentoring initiative. The program’s goal is to increase the presence of people of color from diverse backgrounds in the entertainment industry’s executive ranks. Funded by a $500,000 grant from [...]

  • Tom Cruise as Ethan Hunt in

    Paramount Inks Deal for Theme Park in South Korea

    Paramount Pictures has announced a deal to install a studio-branded theme park in an entertainment resort being developed in South Korea. The agreement was struck between Paramount and Mohegan Gaming & Entertainment, which owns the Inspire Integrated Entertainment Resort in the South Korean city of Incheon. Mohegan has invested KRW 2.8 trillion ($2.4 billion) in [...]

  • Davan Maharaj Mel Gibson

    L.A. Times Publisher's Lawyer Was Accused of Extorting Mel Gibson

    The attorney who negotiated a $2.5 million exit package for L.A. Times publisher Davan Maharaj was previously accused of using secret recordings to extort actor Mel Gibson. Surreptitious recordings also figure in the Maharaj case. NPR reported on Wednesday that Maharaj taped Tronc chairman Michael Ferro. According to the report, Ferro was heard on the [...]

More From Our Brands

Access exclusive content