The West Australian - Corporate Ownership

Corporate Ownership

The West Australian was owned by the publicly-listed company West Australian Newspapers Ltd from the 1920s. In 1969, the Melbourne based The Herald and Weekly Times Ltd bought WAN and published the paper until 1987 when it was sold to Robert Holmes à Court's Bell Group in 1987 when the remainder of H&WT was bought by Rupert Murdoch's News Corporation. The following year Alan Bond, through Bond Corporation, gained control of Bell Group and hence the paper. This ownership structure only survived for a few years until the collapse of Bond Corporation. A newly formed company, West Australian Newspapers Holdings, then purchased the paper from the receivers before being floated in an oversubscribed $185 million public offering. Chairman Trevor Eastwood announced in the annual report that the company was listed on the Australian Securities Exchange (ASX: SWM) on 9 January 1992. A management fee of $217,000 and underwriting/brokers handling fee of $1,981,136 were paid to companies associated with former short-term directors John Poynton and J. H. Nickson. After being acquired by Seven Media Group in February 2011, West Australian Newspapers Holdings Limited became Seven West Media Limited, Australia's largest diversified media business.