Michael Horton

"Unrelated, and many months later, Heatley took a late call at home from brokers Buddle Wilson. It transpired that somehow Brierley’s had learned that Michael Horton was booked on a flight from Auckland to Los Angeles. As soon as the plane had taken off, Brierley’s had launched a raid on Wilson & Horton shares. Horton could mount no defence because he did not even know the raid was happening. The brokers were acting on his behalf but without his knowledge. ‘Suddenly, Wilson & Horton, through Buddle Wilson, think I might be able to stave off Brierley’s,’ Heatley says. ‘Brokers are furiously trying to buy shares and they are calling and suggesting that I become a white knight but I was not interested without an agreement with Michael, which I could not have because he was on a plane.’ It was not the last time that an unfortunate turn of events for Wilson & Horton would become an opportunity for Heatley."

"Another of Rainbow’s purchases, for a brief time, was a small stake in ⁠*The New Zealand Herald* publisher Wilson & Horton. Heatley had always been interested in the media from a consumer’s perspective and now thought he would like to be a long-term shareholder in the publishing company and get to know its chairman, Michael Horton. Heatley thought there could potentially be a good partnership. He liked publishing, liked the media and respected what Wilson & Horton had achieved. But after buying 3 per cent at a good price, no overture was forthcoming from Wilson & Horton. ‘I think Michael took the view that there was no way he was going to let me in.’ After a short time, Rainbow sold its stake and moved on to other investments.⁠"