Seven West Media and Prime deny media speculation

Company News

by Kathy Skantzos

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.

Prime has confirmed allegations the two companies engaged in discussions about the possible combination of their companies, however said these discussions have ceased.

Prime said it saw merit in the combination but no agreement was made with Seven West Media.

The media companies said they often have discussions with affiliates on various matters of common interest.

The two companies say they remain in a mutually beneficial working relationship.

Shares in Seven West Media (ASX:SWM) are trading flat at 71 cents.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.