Sofcom not a soft touch

DCL Pty Ltd, owner of 3AK and 3MP, has reduced the scope of its takeover bid for internet company Sofcom. DCL was originally bidding for 90% of the company’s shares, but has reduced its bid to 51% as a result of the company’s founder knocking back the takeover bid for his third of the shares. 3AK Breakfast presenter Jeff Kennett is chairman of Sofcom. The deadline for shareholders to accept the DCL offer has been extended to June 28.