Seven West enters ARN/SCA media wars

NEIL GRIFFITHS

November 13, 2023 9:22

Seven West Media has confirmed that it has has acquired a 14.9% share ($50.1 million) in ARN amidst the network’s takeover bid of Southern Cross Austereo.

Seven West has also acquired an additional 5% share via a cash-settled equity swap with Barrenjoey Markets, making it the largest shareholder in ARN.

It comes as SCA weighs up a takeover proposal from ARN, which would see ARN, alongside Anchorage Capital Partners, create a “focused” metro radio network of 10 stations across Sydney, Melbourne, Brisbane, Adelaide and Perth with each city featuring a KIIS and Triple M brand.

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