Seven West Media makes bid for Prime
Seven West Media is proposing to buy regional TV broadcaster Prime in a deal worth $131.9 million.
The two companies have reached conditional agreement for a combined business which would reach 90 per cent of Australians.
Seven boss James Warburton said Seven would be able to give advertisers easy access to capital city and regional viewers via a single platform.
Prime has for many years shown Seven programs on its network.
The Prime board will recommend shareholders vote for the proposal at a meeting next month.
Shares in Seven West on the ASX were up almost 10 per cent to 50 cents at 1337 AEDT.
Shares in Prime were up almost 70 per cent to 39 cents.
