Seven West Media Limited (ASX:SWM) has announced it is in negotiations with News Australia to acquire Perth Now and The Sunday Times.
The agreement would also see both companies implement a news content sharing agreement between The West Australian and News Australia’s daily brands in Adelaide, Brisbane, Melbourne and Sydney.
The companies are currently joint venture partners in WA’s Community Newspaper Group.
Seven West CEO Tim Worner has indicated the proposed acquisition will drive efficiencies within the business and allow the company to compete more strongly against global content platforms.
Seven West Media reported a net profit of $135.2 million at December 26 2015
