Large Communicado stake up for grabs

Emerald Capital, the major shareholder in production company Communicado, is believed to be close to a deal to sell its stake to Australasian company Screentime.

Emerald Capital's 38% interest in Communicado has been on the market for some time and earlier this year another shareholder, Murray Roberts, expressed interest in buying it (NBR, January 28).

Broadcaster Paul Holmes also has an 11.6% stake in Communicado.

Screentime Australia executive director Bob Campbell told Onfilm magazine there was no share purchase but would not comment on whether they were engaged in negotiations.

Communicado has been a shadow of its former self since its dynamic founder, the late Neil Roberts, sold out of the company. It lost some of its corporate video work which it had used to fund award-winning documentaries and films such as the acclaimed feature Once Were Warriors.

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