Seven West Media to Sell Pacific Magazines

  • Oct 21, 2019 AEDT
  • Team Kalkine

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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