Seven West Media (SWM) has today announced it will merge with Prime Media Group through a 100 per cent scrip-based Prime scheme of arrangement and sell its Western Australian radio assets (Redwave) to Southern Cross Media for $28 million.
SWM and Prime have entered into a Scheme Implementation Deed under which it is proposed that SWM will acquire all Prime’s issued shares through a Scheme of Arrangement under which Prime shareholders will receive 0.4582 SWM shares for each Prime share that they hold.
Following completion of the proposed transaction, existing SWM shareholders will own 90 per cent of the combined entity, with Prime shareholders holding the remaining 10 per cent.
The combined business will be led by James Warburton, SWM managing director and CEO, and will be chaired by Kerry Stokes, chairman of SWM.
Commenting on the merger plan, Stokes said: “SWM and Prime have had a longstanding relationship and are key partners in the industry. The combined group will cement our position as Australia’s leading content provider and presents excellent value to shareholders.”
Prime’s chairman John Hartigan added: “The Prime Board has carefully considered the proposed transaction and believes it is in the best interests of Prime shareholders. It represents an exciting opportunity for Prime shareholders to maintain their exposure to the broadcast television industry in a stronger and larger combined group that is more relevant and resilient.”
Warburton said: “The Proposed Transaction is a game changer for advertisers and media buyers and cements SWM’s position as the superior advertising offering. Overnight, SWM will be the leading wholly-owned commercial premium network that amasses a monthly Australian audience reach of 18 million people.”
Dentsu International has announced the appointment of Michael Bass (pictured) as chief trading officer, media, Dentsu Asia Pacific. With over 20 years’ experience, Bass’ career has included a range of senior investment and trading roles across the media sector. Bass spent seven years at IPG Mediabrands as trading director of Initiative and subsequently moved on […]
Nine, Seven, and Network 10, all went up against each other last night, debuting fresh seasons of their previous hit shows. The Masked Singer, The Block and My Kitchen Rules all went out to battle, and they all pulled in pretty solid numbers. Let’s get the puns out of the way, My Kitchen Rules simmered, […]
Nine’s The Block burst back onto the scene last night, and interestingly its regional move has translated into more regional viewers. This season of The Block isn’t based on apartments or inner city semis. Instead, The Block has gone rural. The contestants are renovating five separate homes, each on 10 acres of land outside of Melbourne […]
The Masked Singer debuted last night, and Toadie made his debut post Neighbours. Neighbours ended this year, almost cracking a million for its finale and then cracking over a million in BVOD views. Ryan Moloney, aka Toadie, has starred in Neighbours since 1995 and has been a much-loved fixture on our television screens. However, there’s been […]
Brand extension agency Asembl has partnered Streets’ iconic ice-creams with Australian home fragrance, candle and oil diffuser specialist, dusk for a dreamy creamy fragrance range. Now online and launching on Thursday August 11 2022 in dusk stores across Australia, the range including candles, MoodMist fragrant oils, tealights and melts is the very first time these […]
WPP has increased its annual net sales outlook after strong client spending in travel, tech and healthcare sectors boosted pretax profits in the first half of 2022. The world’s largest advertising group announced it made £6.8 billion ($A11.8 billion) in half-year sales and reported a 10.2 per cent increase from the previous year. Pretax profit […]
ROLLiN car insurance has partnered with creative studio Bear Meets Eagle On Fire (BMEOF) to create a 16-part mini-series celebrating important dates in hip hop history. Building on the cultural cachet of the brand launch spot — which featured a yellow puppet named Larry rapping along to Digital Underground’s ‘90s classic ‘The Humpty Dance’— ‘Hip […]
The Nova Podcast Network has released its latest show, Decoding Crypto, which aims to help Aussies understand the nuances of everything from bitcoin to blockchain. Financial journalist Edwina Stott and Collective Shift CEO Ben Simpson will host the new show, explaining the key factors of the crypto revolution starting today, Monday 8 August. The show […]
Australia’s largest independent family-owned brewery, Coopers, has unveiled a brand-new look for its portfolio of naturally conditioned ales and stouts. The first major update to core packaging in 20 years, the iconic Coopers roundel has been refreshed with a modern and clear design showcasing the brand’s heritage and brewing process. The updated packaging follows Coopers’ […]
Domino’s has released an ad campaign announcing its move into burger delivery via It’s Friday. The ad is centralised around the phrase “Finally, burgers made to be delivered”, a reference to Domino’s self-proclaimed title as the experts in food delivery. Adam Ballesty, chief marketing officer of Domino’s ANZ, said: “We’re excited to be able to […]
Michael Hill Jeweller has launched a new campaign promoting its bridal range by celebrating the love story at the heart of the brand. Developed in partnership with CHEP Brisbane, the campaign leads with a film that explores the story of Sir Michael and Lady Christine Hill, from their first meeting in 1964 through to their […]
Australian media personality Russel Howcroft has re-signed a multi-year deal as co-host of 3AW’s Breakfast show, which will see him continue to partner Ross Stevenson on Breakfast for another four years. “’We are delighted Russ is committing to 3AW for the long term”, said 3AW station manager, Stephen Beers. “Ross Stevenson and Russel Howcroft have […]
10’s Masked Singer is gearing up to return, and what it lacks in seriousness, it makes up for in silliness and usually ratings. Masked Singer will be airing from Sunday 7th of August, and it is racing onto the scene after the success of 10’s Hunted. EP Tamara Simoneau chatted with B&T, about why 10’s […]
Integrated communications firm Icon Agency has been ranked the fourth fastest growing agency in the Asia-Pacific, Middle East and Africa, according to the 2022 PRovoke PR Agency ‘Fast Movers’ rankings. Icon’s fee income for calendar 2021 grew 84.3 per cent, making it the fastest-growing and largest independent agency in Australia. The Melbourne-based indy was ranked […]
Tiger Brokers, an online broker for millennials and Gen Z, is offering fans the chance to win sideline seats to Melbourne Storm’s Round 21 clash against the Titans at AAMI Park (Friday 5 August 2022). The campaign has reached its peak, and now every Australian can also have the chance to win a Melbourne Storm […]