Seven lifts stake in WAN above 15pc

KERRY Stokes’ Seven Network Ltd has increased its stake in West Australian Newspapers by less than 1 per cent, taking advantage of last week’s implementation of reforms to media ownership laws. Seven said in a statement that the size of the acquisition meant disclosure of the amount paid was not necessary. “At a practical level, Seven does not expect this increase in shareholding to affect its ongoing relationship with West Australian Newspapers,” the announcement said. The network bought a 14.9 per cent stake in WAN last October, the maximum permitted under the previous laws. Shares in WAN closed at $17, up $1.03 or 6.45 per cent, and at its high for the day. Seven shares finished up 14 cents at $11.47. Seven sold half its media businesses into a $4 billion joint venture with US-based private equity firm, Kohlberg Kravis Roberts & Co, in November, leaving it cashed up ahead of the reforms.


(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

BNIQ sponsored byECU School of Business and Law


6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
49 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer