Just a week after launching 7NEWS.com.au, Seven West Media (ASX:SWM) has completed the $20.75 million cash sale of its 50 per cent stake in Yahoo7.
The sale to Verizon Media (this financial year) now means Seven West Media now has 100 per cent control of its brands and online assets.
It comes as just a week after Seven West Media launched 7NEWS.com.au, which already has a larger online daily news audience than Yahoo7.
In February Seven West Media achieved its largest ever ‘unique monthly’ audience of five million, following year-on-year growth of nearly 20 per cent.
Shares Seven West Media (ASX:SWM) are trading 4.12 per cent higher at $0.51