Seven West Media confirms intention to buy News Corp’s The Sunday Times

sunday times perthSeven West Media has confirmed it is in negotiations to acquire The Sunday Times and Perth Now from News Corp, a move which would unite the Sunday paper with the daily West Australian.

The deal will be subject to regulatory approval from the Australian Competition and Consumer Commission (ACCC) as it will see both of Perth’s newspapers consolidated under one owner.

As part of the agreement, the two companies plan to implement a news content sharing agreement for The West Australian with News’ daily brands in Adelaide, Brisbane, Melbourne and Sydney.

Tim Worner, the CEO and managing director of Seven West Media, said: “We have always had a strong commitment to Western Australia with Channel Seven Perth and The West Australian and our digital platforms and we are looking to strengthen that commitment.

“We see the potential for a positive and growing future for The Sunday Times brand, which has been and will continue to be part of the fabric of this great state.

“Importantly, this proposed acquisition will allow our company to be in a stronger position to compete with the increasing presence of global content and platform businesses in the delivery of news and information. The agreement will also deliver benefits to advertisers – with planned efficiencies in our sales operation covering seven days of publishing and delivering better solutions for our clients, coupled with News representing The West and The Sunday Times alongside their existing brands in other markets.”

In a release filed on the ASX this morning, Seven West Media (ASX:SWM) said it expects the investment to be earnings accretive in its first year and to increase shareholder value for Seven West Media.


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