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The latest update is out from Seven West Media Limited ( (AU:SWM) ).
Southern Cross Media Group Limited (SCA) has announced that the Australian Securities Exchange (ASX) has granted a waiver and confirmation regarding its proposed merger with Seven West Media Limited (SWM). This merger will see SCA acquire all shares of SWM through a scheme of arrangement. The ASX waivers allow SCA to proceed without requiring shareholder approval for certain aspects of the transaction, including the acquisition of shares held by Spheria Asset Management, a significant shareholder in both companies. The merger is not considered a back door listing and does not fundamentally change SCA’s main business focus, which aligns with SWM’s operations in media content delivery across various platforms. This strategic move is expected to enhance SCA’s market position in the media industry.
The most recent analyst rating on (AU:SWM) stock is a Sell with a A$0.15 price target. To see the full list of analyst forecasts on Seven West Media Limited stock, see the AU:SWM Stock Forecast page.
More about Seven West Media Limited
Southern Cross Austereo (SCA) is a leading Australian media company known for its digital audio app LiSTNR, as well as the Hit and Triple M networks. The company offers a wide range of digital audio content, including radio stations, sports coverage, music playlists, news, and podcasts. SCA reaches an estimated eight million people monthly and owns 104 radio stations across various platforms.
Average Trading Volume: 1,200,895
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$215.5M
For a thorough assessment of SWM stock, go to TipRanks’ Stock Analysis page.