Excerpt from BRW Report, Page 18
Those unfamiliar with destra Corporation probably belong to the wrong demographic. The listed company speacilises in "edgy" generation "X" and "Y" brands including extreme sports website Planet X, dance music label Central Station Records and rock music website Mess+Noise.
Some of these companies create content. Others distribute it to tight-knit online communities. Others fuse the content with advertising services and brand-funded content for distribution across pay television, free-to-air TV and the internet.
This consort of edgy labels is the result of 14 acquisitions during the past two years. Destra co-founder and chief executive Domenic Carosa would have liked to have made a few more acquisitions before the stockmarket turned and capital dried up - namely independent film and television producer Beyond International, in which destra holds a 10 per cent stake. But he will settle for consolidating his purchases until market confidence is restored.
On the Sydney Morning Herald:
Destra Changes Its Focus
Miriam Steffens
February 29, 2008
DIGITAL media company Destra has put expansion plans on ice due to tighter debt markets, focusing instead on leveraging more than a dozen acquisitions it has made in the past two years.
The company, which counts Lachlan Murdoch and Prime Media Group among its investors, earlier this month shelved its plans to buy the Mythbusters production company, Beyond.
"We've got a lot on our plate with integration, and I would certainly say that market circumstances are such that we are not expecting to put forward a proposal at this time," chief executive Domenic Carosa said. "For the moment we are squarely focused on consolidation and integration."
Visit the Sydney Morning Herald to read the full article >>