With advisors from Grant Samuel helping Seven West Media with debt reduction plans again, there is talk that the flagship West Australian may be back on the market.

The current focus is on Seven West Ventures which looks after investments in companies including Airtasker, Draftstars, Health Engine, Huddle, Media Beach, New Zulu, and SocietyOne. The portfolio is in the books for about $95 million, and a single purchaser is being sought.

Original plans when Tim Worner was chief executive of SWM had been to leverage TV and print audiences to drive success. With James Warburton now in charge of the Kerry Stokes-controlled conglomerate, and Pacific Magazines sold, there are reports further attention may also be focussed on in West Australian Newspapers and Seven Studios. A logical purchaser for WAN might still be Antony Catalano's Australian Community Media, although fruitless talks have already been held.

Update: Beyond International has since bought the UK arm of Seven Studios and the remaining 50.98 per cent of shares in 7Beyond, based in LA, which it did not already own. Seven will retain a participation in current projects, and all onshore production interests.