Granada ups Seven stake in Oz

Brit co. spends $14 mil for 1.3% stake in Stokes' net

SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%.

The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become the target of a takeover. (Stokes controls just over 34% of the web.)

Acquisition is the latest in Granada’s aggressive strategy Down Under, which is part of an international expansion plan that includes programming forays in Germany and the United States.

More Biz

  • Tony Vinciquerra

    Sony Pictures Chief: Studio Needs to Grow or 'We'll Be Somebody's Purchase'

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

  • Dylan Farrow CBS This Morning

    Dylan Farrow Gives First Interview About Woody Allen Allegations: 'I Am Telling the Truth'

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

  • Ajit Pai Free Speech

    State Attorneys General File Suit Over FCC's Net Neutrality Repeal

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

  • Miramax Parent Company Enters Fray for

    Miramax Parent Company Enters Fray for Weinstein Co.

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

  • Alec Baldwin Woody Allen

    Alec Baldwin Criticizes Stars Denouncing Woody Allen: 'It's Unfair and Sad'

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

  • U.S. Capitol

    Senate Democrats Close to Majority on Vote to Restore Net Neutrality Rules

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

  • Upright Citizens Brigade Marches in to

    Upright Citizens Brigade Marches in to Help Madison Avenue

    SYDNEY — Britain’s Granada has spent A$23 million ($14 million) to acquire a 1.3% stake in Kerry Stokes’ Seven Network, lifting its shareholding in Australia’s second-ranked web to almost 10.5%. The purchase of the additional stake brings Granada’s Seven investment to around $100 million and makes the British conglom a key player should Seven become […]

More From Our Brands

Access exclusive content