Wednesday July 25,2012 : TWO WAY BACKS OUT OF PRIORITY ONE MERGER (Update)
Plans on hold until ASX Listing is achieved
According to a company press release, Australian media firm Two Way Limited has backed out of the proposed merger deal with the Priority One Network Group Limited but will resume plans once Priority One has achieved an ASX listing.
Both parties have agreed to release each other from all obligations arising for the agreement signed last month (June), as "circumstances were found to exist that were not known", presumably related to the listing.
Two Way Limited and Priority One have indicated a continued relationship in which they will explore commercial media and wagering opportunities together in the meantime.