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

  • Reese Witherspoon

    CAA Sets Rare Public Event With Reese Witherspoon, Jenny Han Among Attendees

    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 […]

  • Former movie producer Harvey Weinstein arrives

    Judge Allows Harvey Weinstein Sex Trafficking Suit to Proceed

    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 […]

  • R. Kelly

    R. Kelly to Perform at MSG’s Hulu Theater in New York Next Month

    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 […]

  • Brian Speiser APA

    APA Alternative Agent Brian Speiser Promoted to Partner at APA

    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 […]

  • Live Nation Names Amy Marks EVP,

    Live Nation Names Amy Marks Exec VP, Head of Integrated Marketing

    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 […]

  • Kukai

    Tencent Unit Buys New Classics Media for $2.25 Billion

    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 Lippin Group

    George Cabico Joins Lippin Group as Senior VP

    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