Shares in Consolidated Media Holdings have risen by more than 14 per cent amid speculation that Seven Network owner Kerry Stokes may be trying to build a stake in the company.
Consolidated Media surged 32c, or 14.48 per cent, to A$2.53 on the ASX-200 yesterday on a volume of 85 million shares.
"Stokes has been looking to increase his exposure to pay TV," IG Markets research analyst Ben Potter said. "Consolidated Media has a large stake in Foxtel."
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