The big news in print this week was Ovato entering voluntary administration.
Ovato was formed through a mega-merger between the historic Hannan family owned, IPMG, and PMP Ltd – a company that was once part of the Murdoch empire.
Here is a look back at the recent history of the company:
July 21, 2022 – Ovato enters voluntary administration
June 9, 2022 – Opus Group acquires Ovato’s book printing business for $8.5m, gains a $2.5 million Convertible Note which gives it a 14.7% share in Ovato
July 6, 2021 – Ovato closes its residential distribution business
July 1, 2021 – Ovato sells A/NZ retail distribution arms to customer and 16.4% shareholder, magazine publisher Are Media for $15m
July 29, 2021 – Ovato Creative Services, Ovato Technology, Ovato Communications, Ovato Creative Services Clayton and Pacific Intermedia Pty Ltd sold to Hannan business, Ballygriffin Holdings, for $9m – later rebrands as SBM Communications
June 15, 2021: James Hannan replaces Kevin Slaven as Ovato’s CEO
May 4, 2021: Hannan family puts Ovato’s Geebung site in Brisbane on the market
January 13, 2021: Administrators take over four Ovato entities
November 12, 2020: Ovato announces…