Reports suggest sale of News Corp’s Sunday Times to Seven West Media is nearing completion
The sale of News Corp’s Perth newspaper The Sunday Times and its PerthNow website to Seven West Media is nearing completion, according to a report in the Australian Financial Review.
The report said that it is understood that the Australian Competition and Consumer Commission (ACCC) has been approached for its views on the transaction, with it suggesting that a deal should be done before the end of the month.
An ACCC spokesperson told Mumbrella: “We expect to commence a public review shortly pending receipt of certain information from the parties. We will be seeking submissions from interested parties.Details will be made available on our mergers register.
It was first reported in January that News Corp was in talks to sell The Sunday Times in a deal that would put the newspaper in the same stable as WA’s only metro daily The West Australian.
Given Seven Perth’s dominance of the Perth TV market, this will lead to Perth having only one strong commercial news outlet.
It will also reduce advertising options.
Of course, news.com.au will continue to serve ads to Perth people, and no doubt wa.news.com.au or it’s equivalent will appear before long.