Kerry Stokes no longer ARN Media’s top shareholder

ARN Media has a new top shareholder, after a Friday afternoon sell-off saw an investor blast by major shareholders – Seven West chairman Kerry Stokes and News Corp – to take the largest slice of the media company.

Samuel Terry Asset Management now controls 16% of ARN Media, after buying up the majority of Allan Gray’s 10% investment, which it sold off in a series of transactions on Friday afternoon. Samuel Terry previously held a 7.4% stake.

With 16% of the media company, Samuel Terry has moved past both Seven West chairman Kerry Stokes, who holds 14.5% of the company and was the biggest single holder, and News Corp’s 13% stake.