Seven West Media Limited: Takes Strategic Equity Stake in ARN

Seven West Media Limited (ASX: SWM) strategically invested in A1N (ASX: A1N), acquiring a 14.9% stake and securing an additional 5.0% through a cash-settled equity swap with Barrenjoey Markets Pty Limited, marking a significant move in the media sector. With established commercial partnerships and a vested interest in the enduring success of A1N, SWM emphasizes its support for A1N's current business trajectory.

Despite recent sector consolidation proposals, including non-binding indicative offers involving A1N, SWM clarifies its non-intention to initiate a takeover of A1N or Southern Cross Media Group Limited (ASX: SXL). The acquisition of the 14.9% shareholding, priced at AU$1.10 per A1N share, amounted to approximately AU$50.1 million, inclusive of the prefunded swap on an equivalent pricing basis.

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