Is there going to be a new player in the network radio space?
Their portfolio of media assets is impressive.
Multi-platform, multi-channel and one of the big players in free-to-air tv. Their chairman has indicated that radio network ownership is “possible”.
Hot after securing a 3 year deal for the Olympics, as reported in the Sydney Morning Herald, Seven West Media chairman Kerry Stokes says ”it is possible the free-to-air television, digital, newspaper and magazine company could own a radio network before the end of its newly-signed deal to broadcast the next three Olympic Games”.
The Seven Network Olympics deal is a massive splurge of $190 million with rights to free-to-air television, pay television, radio, digital, mobile and Hybrid Broadcast Broadband TV.
“I don’t know if we will, it’s up to (Seven chief executive) Mr Worner, but it’s possible.”
Kerry went on to say in the Sydney Morning Herald, “he saw potential synergies in owning a radio network and a free-to-air television network.”
Based on current ownership laws, they could acquire radio stations in all cap cities, except Perth where cross media rules, as they sit right now, stop that because they own The West Australian newspaper.
The Seven West Media empire includes Seven Television, Pacific Magazines, Yahoo!7, as well as The West Australian and associated WA regional newspapers and radio stations.
Who will they acquire?