Mr Carosa hinted that Destra was about to embark on an ambitious push to buy content to deliver through the internet. "Beyond has a fairly significant collection of intellectual property, that is, content," he said. "We believe that as internet becomes fast, cheap internet becomes ubiquitous, and delivering niche content becomes a lot easier."
The Australian, 21st Nov 2007
Nick Tabakoff
THE bidding process for Beyond International has taken another twist, with digital media group Destra making a last-minute entry into the fray by buying a blocking stake in the television and film production house.
Destra chief executive Dominic Carosa refused last night to rule out making a takeover bid of its own for Beyond, saying: "We'll announce something in due course. I can't speculate on what we plan to do, but we're reviewing all our options and keeping them all open."
Mr Carosa hinted that Destra was about to embark on an ambitious push to buy content to deliver through the internet. "Beyond has a fairly significant collection of intellectual property, that is, content," he said. "We believe that as internet becomes fast, cheap internet becomes ubiquitous, and delivering niche content becomes a lot easier."
Beyond's "intellectual property" includes a number of prominent series shown on Australian television, including the Nine Network's What's Good for You, the ABC's recently screened documentary South Side Story (featuring Russell Crowe) and the popular Mythbusters (which Beyond makes for the US Discovery Channel).
While refusing to confirm whether he would be launching a bid for Beyond, Mr Carosa indicated the content it provided fitted in with Destra's expansion plans. "Our vision over the next five to 10 years is to become a global internet niche broadcaster," he said. "In future, your plasma will be hooked up to the internet and hence allows us to broadcast globally."
Read more on The Australian Website here >>>
Sydney Morning Herald, 21st Nov 2007
Miriam Steffens
In a related news article, Mirriam Steffens reports, "The takeover of Beyond International, the producer of the television series Mythbusters and What's Good For You, hit an unexpected hurdle yesterday when the digital media company Destra built up a 10 per cent blocking stake in the business.
It is the latest twist in the two-month takeover saga for the company, which in October accepted a $74.6 million bid from Mariner Financial, an investment firm associated with its chairman, Ian Ingram, and one of its directors. The acceptance broke off a previous takeover deal with the Malaysian private equity fund Navis Media.
The CEO of Destra, Domenic Carosa, remained tight-lipped about his plans for Beyond, which has about the same market value as his own company."
Read more of Miriam's article on The Australian, 21st Nov 2007 issues.