Prime Media shareholders vote in favour of acquisition by Seven West
It follows the ACCC saying earlier this month that they would not oppose the deal.
Prime Media shareholders have today overwhelmingly voted in favour of the company being acquired by Seven West Media, with more than 95% supporting the deal.
Prime owns 2 television networks in regional Australia:
Prime7, airing in Victoria, NSW, the ACT & Queensland
And GWN7, airing in Western Australia
The company already has an affiliation with the Seven Network, with almost all programs - bar local news bulletins updates - coming from the metropolitan stations.
It's likely going to spell the end of localised branding on Prime stations, which has had a programming affiliation agreement with Seven since the very early days of the company.
Earlier this month, the Australian Competition and Consumer Commission (ACCC) said they would not oppose the deal that was first proposed in November.
Only a handful of regional media companies remain, including Southern Cross Austereo, WIN Television & Imparja Television, which broadcasts to remote areas of the country.
WIN axed multiple local news bulletins earlier this year, around a month before it returned to affiliation with the Nine Network.
It's not yet clear if there will be any impact to Prime7 or GWN7's local news bulletins, which do not air in Victoria, Queensland, the ACT & parts of NSW.
On some Prime7 stations, a half-hour national bulletin airs, which may get the axe in favour of the metropolitan 6pm broadcasts.
In regional Queensland, the 6pm Brisbane bulletin is already cut down & aired at 6:30pm following a local bulletin.
The acquisition will be completed on December 31 & trading will be paused on January 25.