Seven West Media Announces Merger & Divestment

  • Oct 18, 2019 AEDT
  • Team Kalkine

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.


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