Seven West Media hits five-year price low as SCA merger looms

Seven West Media’s share price has slumped to the lowest point since the early days of the Covid emergency more than five years ago.

SWM stock fell by 7.7% on Thursday, taking the company down to a market capitalisation of $178m.

SWM’s shareholders will vote next week on a merger with Southern Cross Austereo, which also fell today, losing 1.9%.

The combined market cap of the two companies is $366m, a fall of more than 12% since the merger was announced 11 weeks ago.

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