RADIO-CABLE MERGER
World Control Sought TWO HUGE HOLDING CONCERNS Combined Capital of £110,000,000 (United P.A.—By Telegraph — Copyright) Reed. 9.30 a.m. SYDNEY, To-day. Information is now available in regard to the merger negotiations which are proceeding between the Eastern Associated Telegraph Companies, the Marconi Company, and the Pacific Cable Board, for united control of cable and wireless communication.
The dominating interest will be held by the Eastern Associated Companies. There will be a new holding company, which will have a capital of about £55,000,000. It is also reported that there will be a merger between the Mackay and Western Union interests in the United States by the formation of the International Communications Company, which will have a capital of £55,000,000. The formation of these powerful
holding companies is being brought about by competition with the beam wireless stations, and the working arrangement which is being formed between the Eastern Associated Companies and the United States Companies will prevent any real competition in the future. Briefly, it means the formation of two huge organisations administered under friendly co-operation with a combined capital of £110,000,000, to control the international communications of the world.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/SUNAK19280518.2.93
Bibliographic details
Sun (Auckland), Volume II, Issue 357, 18 May 1928, Page 9
Word Count
190RADIO-CABLE MERGER Sun (Auckland), Volume II, Issue 357, 18 May 1928, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Sun (Auckland). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in