Seven West Media completes sale of stake in Yahoo7 at $20.75m

Company News

by Jessica Amir

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
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.