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Reading: Seven Set To Acquire Prime Media
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B&T > Media > Seven Set To Acquire Prime Media
Media

Seven Set To Acquire Prime Media

Staff Writers
Published on: 1st November 2021 at 8:54 AM
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Seven West Media has announced that it has entered into a conditional share sale agreement to acquire all the business and related assets of Prime Media Group via the acquisition of Prime Television (Holdings) Pty Ltd, Seven Affiliate Sales Pty Ltd and all their subsidiaries.

As a sale of a main undertaking for ASX Listing Rules purposes, the acquisition will be subject to a vote of the PRT shareholders to be held in December 2021.

Seven strongly believes in the rationale of a combined SWM-PRT Business, which will create the leading wholly-owned commercial premium broadcast, video and news network across Australia, reaching more than 90% of the Australian population every month.

Seven West Media managing director and chief executive officer, James Warburton, said: “This proposal is an important step forward for both companies. SWM and PRT are great partners and have a long, successful relationship. Together, they will offer the best content for our national audience and unmatchable premium revenue opportunities for our clients.

“The acquisition means SWM will become Australia’s leading commercial premium broadcast, video and news network, with the potential to reach more than 90% of Australia’s population each month.

“The proposed transaction is an exciting and transformative development for advertisers and media buyers. It means we will be able to give advertisers easy and seamless access via a single platform to capital city and regional markets,” he said.

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TAGGED: Prime Media, Seven West Media
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Staff Writers
By Staff Writers
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Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

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