The deal sees KKR pay A$735 million for a 50% stake in a venture to be called Seven Media Group which will own SevenÆs television, magazines and online businesses. The other 50% of the venture will be held by Seven Network, a diversified media company which is 43% owned by media magnate Kerry Stokes. Stokes, along with Rupert Murdoch and James Packer, form a triumvirate that controls most of AustraliaÆs media.
KKR approached Seven following James PackerÆs success last month...
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