Australian-Media.com.au News
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Seven ups WAN stake
July 4 2007 6:13pm (UTC+8) - Article by Slj
The Seven Network has increased its shareholding in West Australian Newspapers Ltd, the publisher of Western Australia's only daily newspaper The West Australian as well as the owner of numerous regional radio stations and newspapers, to 16.1%, an increase from its previous holding of 15%.
Seven originally purchased an 8.3% stake in the company last October this was later raised to 14.9%, at the time they called the holding a 'strategic stake.' Following the proclamation of the new media reforms in April Seven increased its stake in the company to a little over 15%. The Seven Network currently has no representation at a board level at WAN and has not yet asked for any positions on the board.
Last week UK based Barclays Group acquired a 5.09% stake in WAN, making them a significant holder in the company. The Seven Network closed today at $11.15 while West Australian Newspapers closed at $14.32
Australian-Media.com.au
Comments
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Firetorch
July 5 2007
6:52pm
#5 of 5Well take today's bulletin for example, a story on AFL taking hold in the slums of South Africa (how many times do we have to hear about AFL going international?
) and then the Kevin Sheedy story/interview about his trip to America- surely more time could have been spent on other important sports news.
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Seven News is bias in towards the football. I must admit, I'm quite sick of the AFL stories which make the first block. Sport is for the sport section of the bulletin, you won't hear anything unrelated to sport in the sport section.