WAN becomes Seven West Media

The restructuring of Kerry Stokes' listed companies has been finalised, with West Australian Newspapers Holdings completing the acquisition of 100 per cent of Seven Media Group from Seven Group Holdings.

Following the $4.1 billion purchase, WAN has changed its name to Seven West Media Ltd with effect from Thursday 21 April.

The comapny's ASX code will change to 'SWM' on or around 29 April.

Sydney-based David Leckie, previously chief executive of Seven Media Group, has been appointed chief exective of Seven West Media, which has a diverse mix of media assets including the Seven television network and The West Australian newspaper,

Mr Stokes will be chairman of both Seven West Media and Seven Group Holdings.

The latter company's key assets will be a mix of media and industrial businesses.

It will have a 29.6 per cent shareholding in Seven West Media, 24.4 per cent of Consolidated Media Holdings, which owns 25 per cent of Foxtel, and 100 per cent of broadband group vividwireless.

Its other assets include 100 per cent of WesTrac Group, the sole authorised Caterpillar dealer in WA, NSW and north-east China, 66 per cent of National Hire, which in turn owns 46 per cent of Australia's largest equipment hire business Coates Hire, and investments including 608 million shares in the Agricultural Bank of China, worth $300 million at 31 December 2010.