WAN completes purchase of Seven Media Group

WAN completes purchase of Seven Media Group

West Australian Newspapers Holdings (ASX:WAN) has revealed it has completed the $4 billion acquisition of Seven Media Group from Seven Group Limited (ASX:SVW).

WAN has now changed its name to Seven Media West, and will change its ASX code to SWM next week.

Non-executive independent director Doug Flynn said that now that the acquisition is complete, “we look forward to the next stage which will involve the integration of Seven Media Group to create... Seven West Media.”

Shareholders in the then-WAN approved the transaction to acquire Seven Media Group, including the issue of $1 billion in shares and the assumption of $2.1 billion in debt, earlier this month.

The ACCC had given the nod to the deal a week earlier.

WAN shares fell 1.57% in Thursday's trading to $5.020.

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Tags Seven GroupDoug FlynnASX:WANWest AustraASX:SVWMergers and acquisitionsSeven Media Group

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