Stokes does a Packer and takes the cash: $3.2 b sale includes Yahoo7 portal

Australian billionaire Kerry Stokes will raise A$3.2 billion ($2.5 billion) for media takeovers by selling half of Seven Networks Ltd.'s television and magazine assets to Kohlberg Kravis Roberts & Co. The sale includes Seven's half stake in Yahoo Australia which operates the portal www.yahoo7.com.au