Seven West tightens belt in slow ad market

Original article by Lilly Vitorovich, Stephen Brook
The Australian – Page: 21 : 15-Nov-18

Seven West Media has advised that its net cost savings for 2018-19 will be within the range of $20m to $30m, compared with previous guidance of $10m to $20m. CEO Tim Worner says Seven will seek to capitalise on any opportunities that arise from the proposed merger between Nine Entertainment and Fairfax Media. Meanwhile, chairman Kerry Stokes has told Seven’s AGM that foreign digital platforms continue to have an advantage over traditional media companies in competing for advertising revenue.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, CRICKET AUSTRALIA, BIG BASH LEAGUE, FOXTEL MANAGEMENT PTY LTD

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