Seven West Media to acquire Prime Media.

Seven West Media agreed to merge with Prime Media Group through a 100% scrip-based Prime scheme of arrangement. Financial terms were not disclosed. The merger of SWM and Prime will deliver significant value creation by providing advertisers with a single platform that will deliver superior audience reach across metropolitan and regional markets and unlocking the revenue potential of regional audiences. “The Prime Board has carefully considered the Proposed Transaction and believes it is in the best interests of Prime shareholders. It represents an exciting opportunity for Prime shareholders to maintain their exposure to the broadcast television industry in a stronger and larger combined group that is more relevant and resilient,” John Hartigan, Prime’s Chairman.