Bauer completes purchase of Pacific Magazines

Bauer completes purchase of Pacific Magazines

Seven West Media has announced to the Australian Securities Exchange (ASX) it has completed the sale of Pacific Magazines to Bauer Media Group Australia. The deal was completed for AU$40 million in cash consideration, pre-adjustments and leave provisions, as well as AU$6.6 million in advertising over three years in Bauer publications. Earlier this week Bauer Media Group Australia announced a raft of COVID-19 related print-title suspensions and staff redundancies, and temporary stand-downs.

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