MAGAZINES

Mercury gives up on Bauer buyout

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Original article by Lilly Vitorovich, Leo Shanahan
The Australian – Page: 17 : 23-Jan-20

Bauer Media Australia CEO Brendon Hill has confirmed that private equity firm Mercury Capital has withdrawn its offer to acquire the magazine publisher. Hill added that Bauer is open to another approach from the private equity sector if the company’s proposed merger with Pacific Magazines goes ahead. The Australian Competition & Consumer Commission recently expressed concern about the potential impact of the merger on competition in the magazine sector.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, PACIFIC MAGAZINES PTY LTD, MERCURY CAPITAL PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SEVEN WEST MEDIA LIMITED – ASX SWM

Bauer ready to sack magazine luminaries

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 26-Nov-19

The Australian Competition & Consumer Commission will shortly rule on Bauer Media’s proposed acquisition of Pacific Magazines. Bauer is said to be identifying roles that will be duplicated if the merger is approved, with a view to downsizing the combined workforce. Bauer CEO Brendon Hill has declined to comment. There has been speculation that Bauer may sell its magazines business to private equity firm Mercury Capital.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MERCURY CAPITAL PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Why bitter magazine rivals Bauer, Pacific are poised to unite

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Original article by Zoe Samios
The Australian – Page: 17 & 20 : 21-Oct-19

There is general agreement within the media industry that the proposed sale of Pacific Magazines to Bauer Media Australia is necessary for the two businesses to be sustainable. Both publishers have been hard hit by the decline in advertising revenue and circulation over the last 10 years. Magazines now account for just one per cent of the industry’s advertising revenue, compared with seven per cent in 2009. Meanwhile, Bauer’s revenue fell 13.7 per cent to $224.3m in 2018, while Pacific Magazines’ revenue fell 7.2 per cent to $129.4m in 2018-19. Sources have suggested that a deal could be struck within days.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM

Mags next as Seven rings in changes

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Original article by Zoe Samios
The Australian – Page: 23 : 7-Oct-19

Pacific ­Magazines may be the next casualty of Seven West Media’s restructuring under new CEO James Warburton, with reports that Seven is in talks to sell the business to Bauer Media. The two parties have declined to comment on the potential deal, which would have to be approved by the Australian Competition & Consumer Commission. Pacific Magazines’ revenue fell by 7.2 per cent in 2018-19, to $129.4m. About 180 jobs are expected to be cut at Seven West Media as part of the restructuring.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PACIFIC MAGAZINES PTY LTD, BAUER MEDIA AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BAUER MEDIA KG

CEO shakes up Seven with new structure and job cuts

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Original article by Max Mason
The Australian Financial Review – Page: 15 & 18 : 3-Oct-19

The number of people who report directly to Seven West Media CEO James Warburton has been reduced from 17 to just eight as part of a broader restructuring at the group. Seven West Media will also hire three new executives, including the newly-created role of chief content officer. Seven will also streamline its operating divisions and shed staff as it seeks to reduce costs by about $20m in 2019-20. Warburton had flagged an overhaul at Seven West Media when he took the helm in August.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED, TEN NETWORK HOLDINGS LIMITED

Job losses loom as Warburton remakes Seven West Media

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Original article by Zoe Samios
The Australian – Page: 17 & 24 : 25-Sep-19

Seven West Media has declined to comment on speculation that it is poised to shed staff across its operations as part of a restructuring. CEO James Warburton flagged measures to reduce costs shortly after taking the helm in August, as well the potential for mergers and acquisitions in both the traditional and non-traditional media sectors. Seven West Media posted a $444.5m net loss in 2018-19.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, V8 SUPERCARS AUSTRALIA PTY LTD, APN OUTDOOR GROUP LIMITED, JC DECAUX SA

Seven set for tough result as ratings flop

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Original article by Zoe Samios, Leo Shanahan
The Australian – Page: 23 : 19-Aug-19

Tribeca Investment Partners’ Jun Bei Liu expects Seven West Media to announce weak earnings and writedowns when its 2018-19 financial results are released on 20 August. The media group had issued a profit warning in May, and the Seven Network’s audience share is currently 2.4 per cent lower year-on-year. In contrast, the Nine Network’s audience share has risen by 3.4 per cent. New Seven West CEO James Warburton has noted that the Seven Network has some "ageing formats"; data from OzTAM shows that ‘My Kitchen Rules’ and ‘House Rules’ in particular have lost significant audience share in recent years.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED, TRIBECA INVESTMENT PARTNERS PTY LTD, OZTAM PTY LTD

Editorial, marketing cut put Bauer back in black

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Original article by Lilly Vitorovich
The Australian – Page: 23 : 5-Jul-19

Magazine publisher Bauer Media Australia has posted a $6.3m net profit for 2018, following a net loss of $11.3m in 2017. Bauer Media’s revenue of $224.3m was 13.7 per cent lower than previously, and included $142.1m in revenue from magazine sales and revenue of $48.8m from advertising. Bauer’s 2018 financial report also shows that it paid $3.1m in tax for the year, compared with just $1.9m previously.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, BAUER MEDIA KG, PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM

Seven slashes debt, looks to banks’ ad spend

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Original article by Max Mason
The Australian Financial Review – Page: 23 : 20-Feb-19

Seven West Media has posted a 2018-19 interim underlying net profit of $91.8m, which is 7.8 per cent lower than previously. Revenue was 1.5 per cent lower at $797.4m. Seven has scaled back its full-year EBIT growth forecast to no more than five per cent at best. CEO Tim Worner says Seven was affected by the weaker advertising market, but he expects banks and insurers to increase their advertising expenditure in the wake of the Hayne royal commission. He adds that free-to-air TV is a compelling proposition for banks as they seek to rebuild trust in their brands.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, CCZ EQUITIES PTY LTD, AIRTASKER PTY LTD, HEALTHENGINE PTY LTD, SOCIETYONE AUSTRALIA PTY LTD

Pacific making all the write moves

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Original article by Lilly Vitorovich
The Australian – Page: 13 & 14 : 7-Jan-19

Seven West Media’s Pacific Magazines division posted EBIT of $9.6m in 2017-18, and it reduced costs by $32.2m. Pacific Magazines CEO Gereurd Roberts is upbeat about the outlook for its portfolio of titles, noting that it is the market leader in every category in which it has a presence. He adds that content is the priority for Pacific Magazines, while it aims to expand its digital business. Gereurd has also flagged the launch of a new monthly magazine in late January.

CORPORATES
PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, BAUER MEDIA AUSTRALIA PTY LTD