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Seven Network To Change It's Name?Thursday 9 September 1999
By eBroadcast Staff and agencies.
The Seven Network may change its name. As of September 1999 the
executive chairman of the Seven Network, Kerry Stokes, is thinking
of changing the name of the network. Since January 1999 the $A1.14
billion stock has dipped in value. Its fortunes may be about to
reverse. On 8 September 1999 Seven announced that it has invested
$A3 million in the soon-to-be-listed Channel E. Seven has snatched
a 12 per cent share of the fledgling Internet company. It has
purchased five million shares in the float and has purchased an extra
two million shares from existing shareholders. The two companies
are aiming to develop a co-branded financial and business-news site.
This could make Seven look very attractive again.
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