Titles
include Marie Claire, Men's Health (Australian editions) and New Idea.
The sale is
expected to complete by the end of the calendar year, subject to regulatory
approval.
The
proceeds of the sale will be used to pay down debt, improving SWM’s balance
sheet flexibility and simplifying the organization to focus on its content-led
growth strategy, according to Seven West.
SWM and
Bauer Media have also entered into commercial arrangements to mutually benefit
both parties, including advertising spending commitments, the ongoing
production of a Better Homes and Gardens television program, and sharing
lifestyle content under a long-term agreement. In addition, SWM will receive
$6.6 million ($4.5 million U.S. )
of advertising on Bauer Media assets over three years.
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