Macquarie Media to raise $270m, split from parent

Published: 27 Oct 2009 13:41:43 PST

SYDNEY, Oct 28 - Macquarie Media Group <MMG.AX>, a a fund which manages media assets, plans to raise A$294 million ($270 million) by selling new shares and to break free from its parent firm Macquarie Group Ltd <MQG.AX>, Macquarie Media said on Wednesday.

Macquarie Media is selling new shares at A$1.55 each, a 38 percent discount to its last traded price. (Reporting by Denny Thomas; Editing by Mark Bendeich) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))