WAN/ Seven deal backed

Townsville Bulletin - - Investor -

ME­DIA mogul Kerry Stokes says his pro­posal for a $ 4 bil­lion merger of West Aus­tralian News­pa­pers Hold­ings Ltd ( WAN) and Seven Me­dia Group will be backed by share­hold­ers when they vote on the deal next month. Mr Stokes, the chair­man of both Seven and WAN, said the com­bined en­tity would de­liver sub­stan­tial profit growth and he was ‘‘ very con­fi­dent’’ the deal would suc­ceed when WAN share­hold­ers vote on the pro­posal on April 11. ‘‘ The feed­back we’re get­ting is that they’re fully sup­port­ive,’’ Mr Stokes said af­ter a busi­ness brief­ing in Perth yes­ter­day.

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