Economy

Seven West Media and Prime deny media speculation

Seven West Media (ASX:SWM) has denied it has entered an agreement with Prime Media Group (ASX:PRT), but confirms there was a conceptual proposal received.

The talks indicate Australia's traditional media owners are wasting little time capitalising on the liberalisation of ownership laws to explore deals created to expand their audience reach and compete harder against new foreign rivals.

Seven West Media (SWM) has addressed speculation it is set to acquire regional affiliate broadcaster Prime Media, after the federal government's media laws passed through the Senate last week.

Australia's media landscape has been upturned by the arrival of foreign competitors like Netflix and the loss of revenue to digital advertising, resulting in declining earnings and job losses.

"Seven West Media has discussions with its affiliate when appropriate on various matters of common interest".

Prime was more loquacious in its statement, not giving any specifics of the deal but indicating that it would have liked to have pressed ahead.



Like this

Latest


22 September 2017
Cardi B Earns First No. 1 on Streaming Songs with 'Bodak Yellow'
Cardi B claimed in a now-deleted Twitter post that an unidentified NY police officer put her in a banned chokehold. Since its release, " Bodak Yellow " has been working its way further and further into public consciousness.

22 September 2017
Wilder Moving Average Spotted Above the Simple Moving Average for VersaBank
CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average. When getting into the markets, most investors realize that riskier stocks may have an increased potential for higher returns.

22 September 2017
SBI declares cheque books of 6 subsidiary banks invalid from Oct 30
For rural areas, the minimum balance is Rs 1,000 and the penalty is between Rs 20 to Rs 50 for non-maintenance of minimum balance. Meanwhile, for savings accounts with average balance of more than Rs. 2,500, SBI will charge a penalty of Rs. 50, plus taxes.

22 September 2017
Mulayam removes Ram Gopal Yadav as Lohia trust secretary, appoints Shivpal
He said that Mr Mulayam had decided in the meeting that the ideology of Ram Manohar Lohia would be popularised across the country. Mulayam Singh Yadav appointed his brother Shivpal Singh Yadav as the new trust secretary.

22 September 2017
Saudi Arabia lifts VoIP ban on FaceTime, Snapchat, Skype
The Saudi-led coalition responded with a statement saying that a "military solution was never and will never be on the table". Qatar is home to the largest U.S. military base in the Middle East. "It's my great honor to be with the emir of Qatar".

22 September 2017
Japan Airlines orders four Boeing 787-8s
Japan Airlines (JAL ), which already operates the world's second largest 787 fleet, is adding four more 787-8 Dreamliners. Japan Airlines now operates the second largest 787 fleet in the world, with 34 aircraft, behind All Nippon Airways (60).

22 September 2017
Man who set himself on fire has died, police say
Parliament's forecourt and lawn were locked down and were being treated as a crime scene, Parliamentary Services said. Radio New Zealand said witnesses reported seeing the man holding a placard relating to the family court.

22 September 2017
Lockheed, Army Demo Counter-UAV Laser Weapon Prototype
The drones have a 10.8-foot wingspan and the laser destroys them by using its own fuel source against them. Lockheed Martin has shown off a terrifying new video of it testing its ATHENA laser weapon defence system.

22 September 2017
Jets' Todd Bowles: Dolphins QB Jay Cutler 'looks like he never left'
Cutler is 3-0 lifetime against the Jets . - There is one National Football League team that I think is massively underrated. The Dolphins believe this is their year to take over the AFC East and close the gap with New England.

22 September 2017
Shocking Video! BJP Mahila Morcha president slaps girl for dating Muslim boy
The couple was first hounded by UP chief minister Adityanath's outfit Hindu Yuva Vahini. Upon torture, the pair told that they had remained in a love affair for over two years.