Seven West Media Responds To Acquisition Rumours

Seven West Media Responds To Acquisition Rumours

Seven West Media (SWM) has addressed speculation it is set to acquire regional affiliate broadcaster Prime Media, after the federal government’s media laws passed through the Senate last week.

It’s been rumoured that SWM’s most likely acquisition target is expected to be Prime Media following the new media laws being passed, which is part-owned by Seven Group Holdings (the biggest shareholder of SWM).

SWM confirmed in a statement this morning there was “a conceptual proposal received from Prime, but that this did not result in any agreement”.

“Seven West Media has discussions with its affiliate when appropriate on various matters of common interest,” the statement said.

However, Prime isn’t the only media company that SWM has reportedly been talking to.

The Australian Financial Review recently reported that its publisher, Fairfax, commenced discussions around potential deals with SWM that could benefit both companies.

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