Seven West Media Limited has confirmed execution of a definitive purchase contract to acquire The Sunday Times newspaper and the online site PerthNow.
Seven West Media expects the investment to be earnings accretive in its first year and to increase shareholder value for the group. The acquisition was approved by the ACCC in September and is expected to complete early next week.
Under the agreement to acquire The Sunday Times and PerthNow, Seven West Media and News Corporation will also build on a news content sharing agreement for The West Australian with News’ daily brands and mastheads in Adelaide, Brisbane, Melbourne, Sydney, Hobart and the Northern Territory, and online. News Corporation will represent The Sunday Times and PerthNow advertising in the east coast markets.
Seven West Media and News Corporation are also joint venture partners in the Community Newspaper Group in Western Australia. Under the agreement, West Australian Newspapers will print and distribute The Australian and also Community Newspapers titles in the Western Australian market.
The first edition of The Sunday Times under Seven West Media ownership will be on 20 November 2016.
The new editor of The Sunday Times is Michael Beach. Beach is currently deputy editor of The West Australian and head of digital content for Seven West Media WA. He is a Walkley Award-winning journalist and sits on the Walkley advisory board. West Australian Newspapers will also take on some editorial staff from The Sunday Times and PerthNow.
Tim Worner, CEO and managing director, Seven West Media, said: “We are proud to have The Sunday Times and PerthNow as part of our company. We have a deep and strong connection with Western Australia through Channel Seven and The West and our regional affiliates Prime. We look forward – as the new custodians of one of News Corporation’s first acquisitions – to a positive future for both The Sunday Times and PerthNow as part of the WAN group and are committed to ensuring both continue to resonate with the people of Western Australia. Our acquisition allows us to compete against the increasing presence of global content and we are determined to be the company that reflects the lives of all West Australians.”
Chris Wharton, Seven West Media WA CEO, said: “We are delighted to have both The Sunday Times and PerthNow in our stable. Both The Sunday Times and PerthNow deliver audiences complementary to those we are delivering with The West, and we intend to build on The Sunday Times and PerthNow’s already strong and deep connections with the people of Western Australia accessing the extensive resources of the integrated newsroom of The West and Channel Seven Perth.”
PerthNow will join Seven West Media’s existing and planned digital platforms in the Western Australian market. The acquisition will see the company expanding its publishing and printing from six days to seven days a week, a move which will deliver improvements in scale benefits and print cost synergies for Seven West Media’s businesses in Western Australia.
Spikes Asia has announced the appointment of Jenny Lau as events director. Based in Singapore, Lau will take overall responsibility for Spikes Asia. Lau (pictured) has worked within the Asia-Pacific advertising industry for more than 20 years and brings a deep understanding of the trends and issues affecting the regional advertising and marketing industry. Lau […]
Global ecommerce and marketplace specialist Pattern has ranked a group of 50 brands selling on Amazon.com.au based on a set of best practice criteria it has developed. Pet brand Zenify topped the ranking in Pattern’s Amazon Australia Benchmarking Report, scoring 82 per cent of the possible marks against a set of criteria designed to measure […]
Fifth Dimension Consulting has announced the expansion of its executive leadership team in response to the organisation’s significant growth over the last 18 months. Lyndall Spooner has moved from the position of managing director to the role of chief executive officer (CEO). As CEO, she will lead Fifth Dimensions’ innovation arm, as well as the […]
GoDaddy Inc. has today announced the Australian launch of GoDaddy Studio, a new content creation tool designed for small and medium businesses to create beautiful visual content for their business for all platforms. Compatible on both iOS and Android mobile apps and desktop, GoDaddy Studio includes thousands of customisable templates and easy-to-use tools, providing small […]
Seismic has announced an expanded New Zealand (NZ) presence to support the transformation of sales and marketing teams, and enable the nation’s employers to focus on upskilling their workforces to overcome a digital skills shortage. The company has also signed NZ-based specialist consultancies, Fresh Perspective Sales (FPS) and Jumping Fox Interactive, as its first two […]
Alex Huntley, Booktopia’s head of customer experience, recently appeared at software company Freshworks’ recent digital CX summit RE:SOLVE. During the summit, Huntley shared his thoughts on future-proofing customer service architecture.Huntley sat down with B&T to discuss Booktopia’s partnership with Freshworks and how it has helped their platform develop. B&T: Why did Booktopia first decide to partner […]
The Edison Agency has made four new appointments in its Sydney office to service the continued growth across key account The Arnott’s Group and the recent appointment to Nestlé Oceania’s strategic packaging design roster. Over the past 12 months, the culmination of strategic and creative work across the Uncle Toby’s brand and continued growth of […]
SCA has announced a new smart speaker experience for the Hit Network, with Tom and Olly’s Guide to Lockdown. A voice-activated way to get inspiration and information on fun activities that can be done at home, the guide is curated to appeal to a wide audience. Smart speaker users will find a range of ideas […]