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Seven West mulls post-deal Yahoo7 options

AAP logoAAP 26/07/2016

Seven West predicts business as usual at Yahoo7 during the six to nine months it will take for Verizon to wrap up its $US4.83 billion takeover of Yahoo, Inc. © AAP Image Seven West predicts business as usual at Yahoo7 during the six to nine months it will take for Verizon to wrap up its $US4.83 billion takeover of Yahoo, Inc. Seven West Media says it will put shareholders first as it weighs various options in the wake of joint venture partner Yahoo's takeover by Verizon.

Seven West will seek clarification from the US telco over its plans for Yahoo7 in Australia and New Zealand, but on Tuesday said it will be business as usual during the six to nine months it will take Verizon to wrap up its $US4.83 billion ($A6.45 billion) purchase.

Verizon announced overnight it had agreed to buy Yahoo's core properties, which include news and email, plus the likes of Tumblr and Flickr.

"Seven West Media has various options under the Yahoo7 joint venture agreement," Seven West said in a statement.

"Seven West Media will have an opportunity ... to consider which options it selects or a combination as may be negotiated with the new owners of Yahoo, Inc that creates the most value for Seven West Media shareholders."

Yahoo launched in Australia in September 1997, with Yahoo7 existing in its current form for the past decade.

Seven West said it has dramatically expanded its digital products and leads the Australian market in the creation and distribution of digital premium video content beyond broadcast television - such as through dedicated apps for the likes of the Olympics and Australian Open tennis tournament.

"Seven West Media has a number of positive options that will define its future development and success in digital media, building on its already highly successful development over the past few years," Seven West said.

The company in June took a 15 per cent stake in freelance work site Airtasker and is in the process of buying The Sunday Times and online news site Perth Now from Rupert Murdoch's News Corporation.

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