“A real game-changer”: Seven completes Prime Media acquisition
"Our two businesses are becoming one," says CEO James Warburton after Seven acquires regional broadcaster.
- Published by David Knox
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Seven West Media today completed the acquisition of all the business and related assets of Prime Media Group Limited.
Prime Media Group Limited is in the course of changing its name to PRT Company Limited via the acquisition of Prime Television (Holdings) Pty Ltd, Seven Affiliate Sales Pty Ltd and all their subsidiaries.
Seven today noted the combination of SWM and PRT will deliver the following:
- Providing advertisers with a single platform that will deliver superior audience reach across metropolitan and regional markets
- Unlocking the premium and integrated revenue potential of the combined metropolitan and regional audience base across broadcast and digital platforms
- Enhancing the audience proposition through re-investment in content and expanding the digital delivery of SWM’s offering in regional markets
- Generating estimated cost synergies of $5 million to $10 million on an annualised basis. The costs savings are expected to be fully realised within 12 to 18 months from completion of the acquisition.
- Revenue upside is also expected but has not been quantified
SWM Managing Director and Chief Executive Officer, James Warburton, said: “After enjoying a very successful partnership for many years, our two businesses are becoming one.
“The merger of SWM and PRT is a real game changer for both businesses and for the Australian media sector. We now have the potential to reach more than 90% of Australia’s population each month as one integrated company and to give advertisers and agencies easy and seamless access to metro and regional markets.
“Prime is a great business and is the #1 TV network in regional Australia by a big margin. In the metro markets, Seven has been #1 for 13 of the past 15 years, including this year, while 7plus is the #1 commercial BVOD service nationally.
“Together, we are the country’s leading commercial premium broadcast, video and news network. I’d like to welcome the Prime team to Seven West Media and I look forward to working with them,” he said.
9 Responses
Too little too late, FTA fighting a lost battle
With the changes being made, I wonder what Thr dtv names will be? In Regional WA I think they will change the name from GWN7 to Seven, while in the Northern NSW area I think they will change from Prime7 [Town] to Channel 7 [town].
Will 7mate become Full HD at 12am tonight in the Canberra Region?
Don’t know mate you would have to find out.
Watch this space with other regionals (SCA and WIN). The race is on….
7 News local bulletins in regional Queensland have actually expanded since Sunshine Television merged with 7 in 1995.
7 started with Mackay, Wide Bay and Sunshine Coast local bulletins, adding Townsville & Cairns then later Rockhampton and more recently Toowoomba.
All are read out of the Sunshine Coast, with the Sunshine Coast bulletin live.
Most bulletins have dual presenters except Mackay & Wide Bay with the one.
So is there any word on if this means rebranding Prime7 to just 7? Or will the name continue? One thing i really hope doesn’t happen is we lose our local news bulletins because we rely on those and to be honest ever since NBN merged with Nine and rebranded there is way more Sydneyesque news then local and i worry Prime7 will move the same way. I really hope we keep the 30 minute local then national bulletins. I guess we will have to see what happens.
Nothing advised as yet, I would expect changes down the track.
I would say that Prime7 will rebrand as seven and Prime7 news will become 7news. I am basing my opinion on when Sunshine Television merged with seven in regional Queensland.