Seven West Media completes sale of Pacific Magazines to Bauer

Bauer Magazines
Source: Sublimely Media

Seven West Media (ASX: SWM) today announced the completion of the sale of Pacific Magazines to Bauer Media.

$40 million in cash consideration, pre-adjustments and leave provisions, as well as $6.6 million in advertising over three years in Bauer publications, was received by SWM from Bauer for the sale.

Commenting on the completion of the sale, James Warburton, SWM Managing Director and Chief Executive Officer, said: “We welcome today’s completion of the sale of Pacific Magazines to Bauer Media. The completion of this transaction is a key step as we work to transform SWM.

“I want to thank all the staff at Pacific for their passion, commitment and tireless work over the years at SWM.”

This market release has been authorised for lodgement by the Managing Director and Chief Executive Officer of Seven West Media Limited.

Advertisement

Similar Articles

Comments

We Want To Hear From You

Advertisment

Follow US

3,358FansLike
282FollowersFollow
16,359FollowersFollow

Latest

RECAP | History is made with Ben Polson crowned AUSTRALIA’S NINJA WARRIOR | #NinjaWarriorAU

After four years, 636 Ninja runs and 106 grand final attempts, Ben Polson was crowned Australia’s first Ninja Warrior on Nine’s blockbuster competition.

Adventure seeking women to capture Locky’s heart on THE BACHELOR

Guaranteed to be a ridiculously adventurous season, our beautiful Bachelorettes, arrive at the Bachelor mansion with love in their eyes.

EXCLUSIVE | ‘Insulted’: Co-writer of I AM WOMAN angry at rewriting of history in new film

The upcoming biopic of HELEN REDDY has infuriated the man who co-wrote the iconic song I AM WOMAN with claims his contribution has been erased form history

‘He’s not my coach’ – NINJA WARRIOR champion OLIVIA VIVIAN hits out about BEN POLSON perception

The fan favourite has taken issue with the idea her partner is coaching her through each obstacle course.

SBS sport is back with the Tour de France

From Nice to Paris, the postponed 107th Tour de France is back and better than ever with an unconventional and mountainous route.

Nine 2021 UPFRONT goes virtual

Annual showcase presents Nine as the partner of choice for brands as we work towards economic recovery
Advertisement