Is Seven West about to acquire HT&E?

The Australian Financial Review is suggesting that Seven West Media executives are sizing up plans for the acquisition of HT&E.

According to the AFR, Seven West executives have been considering the merits of bringing together Channel Seven and The West Australian, with the firm that owns KIIS FM in a move that would create Australia’s next $1 billion media company.

This is not the first time this move has been speculated with the idea being thrown around as recently as late last year, but AFR sources say that now Seven West Media is actively discussing such a plan with bankers, the chatter has given way to serious consideration of a possible deal.

Chairman of HT&E, Hamish McLennan (pictured), told The Australian Financial Review that “…there’s been informal chitchat in the past” but he was waiting to see Seven’s next move.

He says, “We think we’re one of the best placed media companies. No debt, best talent, a growing share and strong cash flow.”

A Seven spokesman told the AFR that  “…Seven has no discussions with any party currently”.

HT&E is due to report its full-year results on Tuesday, February 21 with revenue expected to be well up from the 2021 result of $225M.

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