Seven West Media has confirmed it is in negotiations for Seven West Media to acquire News Corp’s Perth Now and The Sunday Times after speculation mounted yesterday, following a report in the AFR.
The potential agreement will be subject to regulatory approval from the Australian Competition and Consumer Commission.
Tim Worner, CEO and managing director of Seven West Media, said the potential deal would be good for both the future of The Sunday Times and Seven West Media shareholders.
“We have always had a strong commitment to Western Australia with Channel Seven Perth and The West Australian and our digital platforms,” he said.
“We see the potential for a positive and growing future for The Sunday Times brand, which has been and will continue to be part of the fabric of this great state.”
The negotiations with News Australia include a content-sharing agreement between The West Australian and News Australia’s publishing operations including The Herald Sun, The Daily Telegraph, The Courier Mail and The Advertiser.
Publishing The Sunday Times one day a week is understood to be unsustainable and merging the newspaper to daily will boost its profitability.
The West Australian is also expected to strike a content deal with News Corp, replacing an agreement with rival publisher Fairfax Media.
The sale of The Sunday Times will give media figure Kerry Strokes a monopoly on mainstream newspapers in Western Australia.
The deal has been rumoured to be in play since January, following News Corp Australia chief executive Peter Tonagh and News Australasia executive chairman Michael Miller's take over from Julian Clarke.
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