Seven West Media Limited (ASX: SWM) entered into binding agreement to sell Pacific Magazines to Bauer Media for a cash consideration of $40 million.
- The sale is expected to complete by the end of calendar year.
- Proceeds of the sale to reduce debt and improve balance sheet.
- The sale will allow SWM to pursue its content led growth strategy.
By 12:44 PM AEST, SWM was trading at $0.42, up by 9.1% relative to the last close.
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