Original article by Zoe Samios
The Australian – Page: 23 : 7-Oct-19
Pacific Magazines may be the next casualty of Seven West Media’s restructuring under new CEO James Warburton, with reports that Seven is in talks to sell the business to Bauer Media. The two parties have declined to comment on the potential deal, which would have to be approved by the Australian Competition & Consumer Commission. Pacific Magazines’ revenue fell by 7.2 per cent in 2018-19, to $129.4m. About 180 jobs are expected to be cut at Seven West Media as part of the restructuring.
SEVEN WEST MEDIA LIMITED – ASX SWM, PACIFIC MAGAZINES PTY LTD, BAUER MEDIA AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BAUER MEDIA KG