Seven West Media Limited (ASX: SWM) has reported two strategic initiatives to transform the company. These initiatives would place the network as a wholly owned commercial premium news, video and broadcast network throughout Australia.
- SWM to merge with Prime Media Group Limited (ASX: PRT) via 100% scrip-based transaction.
- SWM to divest the Western Australian radio assets for $28 million to Southern Cross Media Group Limited (ASX: SXL).
- Initiative to strengthen balance sheet & improve key debt metrics.
By 11:57 AM AEST, SWM was trading at $0.387, up by 1.84% relative to the last close.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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