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Why the Seven West Media Ltd share price is on the rise

Since 18 April this year, Seven West Media Ltd’s (ASX: SWM) share price has jumped 45% to $0.72, helped by the news of the company acquiring the free-to-air cricket rights and also an upbeat presentation at the Macquarie conference last week. In The Australian newspaper, CEO, Ryan Stokes said that: “Seven West Media is responding by overhauling its operating structure, reducing costs and using its content in better ways to reach its target audience.” 

Share volume traded is around 12 million over the last few days, compared to the average daily volume of approximately 2 million to 3 million shares. A current dividend yield of 5.7% per annum also provides some support at this level. 

If Seven West Media can rise to the challenge and adapt to the changing landscape in free-to-air television, as well as reduce costs and increase its digital reach, the company may be worth a look. 

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Motley Fool contributor Rosemary Steinfort has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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