WARDLEY Direct Investment Management has appointed two new managers, Peggy Ozol and Michael Tsang, to its investment team. Ms Ozol will be responsible for analysis and monitoring of investment proposals in Southeast Asia, while Mr Tsang will be responsible for analysis and investment proposals in Hong Kong. Before joining the firm, Ms Ozol was an investment officer with CEF New Asia Partners in Hong Kong. Mr Tsang was an assistant manager with Price Waterhouse in London. LORD Walker, chairman of the Thornton Group, has announced management changes and their intention to expand its activities both in Europe and in Asia. In Europe, the group's greatest asset is their power and knowledge of their parent company, the Dresdner Bank, and its close link with the BNP in France. Thornton launched the European Smaller Companies Investment Trust, the first fund to be jointly managed in Frankfurt, Paris and London. Thornton says this method of ''joint funds'' is proving to be a success. ACCORDING to a PBI Securities report, the local media industry is one of the quieter sectors of the local bourse because investors have largely ignored it, thinking its potential is constrained by the limited growth in circulation and advertising revenue. After years of unnoticed performance, the local media industry suddendly experienced some excitement in mid-1993 following News Corporation Ltd's (NLC) annoucement that it would acquire a 22.24 per cent stake in Television Broadcast Ltd for $1.86 billion.