Seven West Media could be close to selling its headquarters for The West Australian Newspapers.
In a note to the ASX, the media company confirmed it’s received a non-binding offer for the property, but hasn’t disclosed its value.
“Seven West Media confirms that it has received a non-binding offer on a sale and leaseback basis from a party undertaking due diligence to acquire the Osborne Park (WAN) facility in Perth, land and buildings,” the note says.
“Seven is not in receipt of a binding offer however if it receives and accepts one in binding form it will update the market.”
The move could provide financial relief for the media company which has been put under further pressure as advertising revenue winds back during the coronavirus pandemic.
Seven West Media has a market capitalisation of $130.7 million and net debt was last reported at $569.5 million.
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