Seven floated merger with ViacomCBS’ Ten

Original article by Zoe Samios
The Age – Page: Online : 26-Oct-20

Sources have indicated that Seven West Media chairman Kerry Stokes held informal talks earlier in 2020 about a potential merger with the rival Ten Network. The discussions between Stokes and ViacomCBS president and CEO Bob Bakish are said to have ended after they agreed that such a deal would not be possible under Australia’s existing media ownership rules. Any such deal would also have faced scrutiny by the Australian Competition & Consumer Commission. The talks have heightened speculation that Stokes may be keen to exit the media sector.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, VIACOMCBS INCORPORATED

Seven West’s five-year fightback

Original article by Lilly Vitorovich
The Australian – Page: 19 : 24-Aug-20

Former Fairfax Media CEO Greg Hywood has completed a review of West Australian Newspapers, amid ongoing speculation about the future of the Seven West Media division. WAN’s editor-in-chief Anthony De Ceglie says Hywood’s recommendations will be taken into account in developing a five-year plan for the newspaper publisher. He adds that WAN will continue to publish print editions for some time, while there has been strong growth in digital subscriptions since WAN paywalled its news websites in mid-2019. Seven West will report its 2019-20 financial results on 25 August.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED, FAIRFAX MEDIA LIMITED

Clock ticking on debt-laden Seven as lenders make plans

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.

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

Seven pulls guidance amid advertising uncertainties

Original article by Max Mason
The Australian Financial Review – Page: 25 : 25-Mar-20

Seven West Media has withdrawn the earnings guidance it issued in February, citing the impact of the coronavirus pandemic. Seven had already downgraded its underlying EBIT guidance for 2019-20 at its half-year results presentation. Seven’s advertising revenue will be hit by the AFL’s decision to suspend its 2020 season until at least the end of May. It is also the official broadcaster of the Tokyo Olympic Games, which were to have been a key source of advertising revenue for the media group in 2020.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM

Seven slumps on downgrade

Original article by Lilly Vitorovich
The Australian – Page: 17 & 23 : 19-Feb-20

Seven West Media has posted a 2018-19 interim net loss of $66.3m, with underlying EBIT down 21 per cent at $119.7 and revenue falling 3.2 per cent to $771.7m. The media group advised that its full-year earnings will be 13 per cent lower than previously forecast amid challenging condition in the advertising market, while CEO James Warburton has flagged the potential for "transformative" mergers and acquisitions. Seven will seek to reduce costs by 20 per cent in the second half, and it will consider asset sales.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM

Seven, Prime buff up terms of merger deal

Original article by Max Mason
The Australian Financial Review – Page: 17 : 9-Dec-19

Seven West Media and regional affiliate Prime Media Group have declined to comment on speculation that investors may be offered a special dividend to make their proposed merger more attractive. Seven’s offer values Prime at between $0.183 and $0.206 per share, but an independent expert’s report has valued Prime at between $0.21 and $0.24 per share. Paying a cash dividend and utilising Prime’s franking credits would lift the bid to a range that is closer to this valuation.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, LONERGAN EDWARDS AND ASSOCIATES LIMITED, WIN CORPORATION PTY LTD, BIRKETU PTY LTD, AUSTRALIAN COMMUNITY MEDIA, REGAL FUNDS MANAGEMENT PTY LTD

Regulate digital platforms: Seven

Original article by Zoe Samios
The Australian – Page: 19 : 14-Nov-19

Seven West Media expects the metropolitan TV market to record single-digit growth in advertising revenue in 2019-20. CEO James Warburton has told the group’s annual meeting that the advertising market is likely to remain weak during the December quarter, noting that Seven’s revenue share was 39 per cent in the first quarter. Meanwhile, chairman Kerry Stokes has called for greater regulation of digital giants such as Google and Facebook, including the implementation of all recommendations arising from the Australian Competition & Consumer Commission’s inquiry into digital platforms.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, PRIME MEDIA GROUP LIMITED – ASX PRT, PACIFIC MAGAZINES PTY LTD, REDWAVE MEDIA LIMITED

Seven West deal tests media diversity

Original article by Zoe Samios
The Australian – Page: 22 : 23-Oct-19

Seven West Media’s proposed acquisition of regional affiliate Prime Media Group will attract scrutiny by the Australian Communications & Media Authority. ACMA chair Nerida O’Loughlin says the deal will be assessed in terms of whether it will reduce the number of media ‘voices’ in the Western Australian market and the application of the ‘two-to-a-market rule’. Seven West Media also publishes newspapers in Perth and regional areas.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, REDWAVE MEDIA LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

CEO shakes up Seven with new structure and job cuts

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

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