Seven Sells Osborne Park Facility For $75M

Seven Sells Osborne Park Facility For $75M

Seven West Media has sold its Osborne Park facility for $75 million.

As stated on the ASX, the purchaser is a special purpose trust (the Primewest Media Trust) managed by Primewest Management Limited.

West Australian Newspapers (WAN) and TVW7 will continue to occupy the site as their headquarters as the sale is subject to a lease for 15 years.

Completion of the sale will take place in approximately four weeks.

Murmurings of a potential sale were flagged some weeks ago, and the completed sale will take a decent slice of SWM’s significant debt pile, which is around AU$569.5m.

The news follows Seven West Media’s latest TV revenue figures, which saw a decline of almost 20 per cent.

SWM made $186.6 million in ad revenue for the first three months of the calendar year. Revenue for the same time last year was $228.5 million.

 




Please login with linkedin to comment

Seven West Media

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]