Original article by Lilly Vitorovich, Perry Williams, Bridget Carter
The Australian – Page: 19 : 13-Apr-20
Seven West Media’s $541m debt equates to 2.4 times its underlying earnings. CEO James Warburton is seeking to reduce costs in response to the coronavirus-induced downturn in the advertising market, but there are concerns that Seven’s lenders may opt to on-sell their debt; any buyers of this debt could potentially call in their loans or gain control of Seven via a debt-for-equity swap. Seven’s outlook has been complicated by uncertainty regarding the future of its $40m deal to sell Pacific Magazines to Bauer Media.
SEVEN WEST MEDIA LIMITED – ASX SWM, PACIFIC MAGAZINES PTY LTD, BAUER MEDIA AUSTRALIA PTY LTD