NEWSPAPER PUBLISHING – WESTERN AUSTRALIA

Seven West open to closer News Corp ties

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Original article by Max Mason
The Australian Financial Review – Page: 19 : 22-Aug-18

Seven West Media has posted a 2017-18 net profit of $135.8m, following a $744.3m loss in the previous financial year. Revenue was 3.2 per cent lower at $1.6bn and underlying EBIT fell 9.9 per cent to $235.6m, while Seven forecasts growth in underlying EBIT of 5-10 per cent in 2018-19. CEO Tim Worner says Seven may seek to strengthen its commercial partnerships or forge new deals in the wake of Nine Entertainment’s proposed merger with Fairfax Media. He notes that Seven already has an alliance with News Corp, but he has downplayed suggestions of a merger.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED, PRIME MEDIA GROUP LIMITED – ASX PRT

Seven not seeking legal costs from Harrison

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 28-Feb-18

The long-running legal dispute between Seven West Media and former employee Amber Harrison has returned to court. Seven alleges that Harrison was in contempt of court by posting tweets about the media group despite being subject to a suppression order. Seven is seeking a declaration to this effect from the Supreme Court of New South Wales, although sources have indicated that the company is unlikely to enforce a costs order against her. Harrison left the media group in the wake of an affair with CEO Tim Worner.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SUPREME COURT OF NEW SOUTH WALES, PACIFIC MAGAZINES PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Seven not seeking legal costs from Harrison

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 28-Feb-18

The long-running legal dispute between Seven West Media and former employee Amber Harrison has returned to court. Seven alleges that Harrison was in contempt of court by posting tweets about the media group despite being subject to a suppression order. Seven is seeking a declaration to this effect from the Supreme Court of New South Wales, although sources have indicated that the company is unlikely to enforce a costs order against her. Harrison left the media group in the wake of an affair with CEO Tim Worner.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SUPREME COURT OF NEW SOUTH WALES, PACIFIC MAGAZINES PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Harrison found liable to pay Seven’s costs

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Original article by Misa Han
The Australian Financial Review – Page: 3 : 18-Jul-17

Seven West Media is unlikely to enforce a costs order against former employee Amber Harrison provided she complies with a non-disclosure agreement. The Supreme Court of New South Wales has ruled that Harrison must pay Seven’s legal costs on an indemnity basis. Justice John Sacker said that Seven had incurred
"unnecessary and significant legal costs" due to Harrison’s
"unreasonable" actions in pursuing legal action against the media group.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SUPREME COURT OF NEW SOUTH WALES

‘I wouldn’t apologise for 50k,’ Harrison warns Seven

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Original article by Misa Han
The Australian Financial Review – Page: 2 : 10-Jul-17

Seven West Media is believed to have incurred legal costs of more than $A1m in its dispute with former employee Amber Harrison. Seven will seek to recover its full legal costs after insisting that Harrison must issue a public apology as part of a deal to settle the case. Harrison had offered to abandon legal action against Seven and accept a permanent suppression order, but with no apology or payment from Seven. The media group had offered to pay her $A50,000 to settle the dispute.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, JOHNSON WINTER AND SLATTERY, AUSTRALIAN HUMAN RIGHTS COMMISSION, FEDERAL COURT OF AUSTRALIA

Seven probe set to clear Worner as director quits

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Original article by Mitchell Bingemann
The Australian – Page: 1 & 7 : 3-Feb-17

Law firm Allens has completed its investigation into the allegations against Seven West Media CEO Tim Worner made by former employee Amber Harrison. The Allens report is expected to exonerate Worner, who has admitted that he had a sexual relationship with Harrison. Meanwhile, Sheila McGregor has resigned from the board of Seven West Media. It is believed that she had concerns about the way the company has handled the Harrison scandal.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, ALLENS, GILBERT AND TOBIN LAWYERS, IINET LIMITED

Seven West Media newspapers will reach 60% of WA

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Sep-16

The Roy Morgan Readership results for the year to June 2016 show that 37.4 per cent of Western Australians aged 14+ (800,000 people) read print editions of "The West Australian" in an average week. Meanwhile, 399,000 (18.7 per cent) read the print edition of the
"Sunday Times". Seven West Media’s deal to acquire the "Sunday Times" will increase the company’s print readership by 100,000, as 299,000 people currently read both newspapers. Overall, the total cross-platform newspaper reach of "The West Australian" across print and digital is now 1,058,000 (49.4 per cent), which will increase by 236,000 to 1,294,000 with the addition of the "Sunday Times" and the Perth Now website. As a result, three in five West Australians (60.5 per cent) will be reading newspaper content published by Seven West Media in an average week.

CORPORATES
ROY MORGAN RESEARCH LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

News Corp to sell WA newspaper

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Original article by Jake Mitchell
The Australian – Page: 22 : 27-May-16

Seven West Media will need approval from the Australian Competition & Consumer Commission to acquire Perth masthead "The Sunday Times" for an estimated $A12m to $A15m. The deal with News Corp Australia is believed to include news website PerthNow. The deal may raise competition concerns, as Seven West Media owns Perth’s sole weekday newspaper, "The West Australian". The competition regulator will seek public submissions on the proposed deal.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUDIT BUREAU OF CIRCULATIONS, FAIRFAX MEDIA LIMITED – ASX FXJ

It’s all about a cut in licence fees: Worner

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Original article by Jake Mitchell
The Australian – Page: 19 : 18-Feb-16

Seven West Media has posted a 2015-16 interim net profit of $A135.2m, compared with a loss of $A993.6m previously. Underlying net profit rose by 2.1 per cent to $A140.3m, but revenue eased 4.1 per cent to $A896.7m. The TV division’s EBIT rose by two per cent to $A185.4m and revenue fell by 2.1 per cent to $A662.9m, while the newspaper division’s earnings fell 22 per cent to $A24m. CEO Tim Worner says reducing TV broadcasting licence fees should be the highest priority on the Federal Government’s media reform agenda.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, PACIFIC MAGAZINES PTY LTD, MACQUARIE SECURITIES PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, TOTALIZATOR AGENCY BOARD (WESTERN AUSTRALIA), RACING VICTORIA LIMITED

Seven West ‘well placed’ to recover despite $1bn write-down

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Original article by Dominic White
The Australian Financial Review – Page: 21 & 26 : 19-Feb-15

Seven West Media has posted a 2014-15 interim net loss of $A994m. The result was marred by writedowns totalling $A1bn, including goodwill associated with its TV and print media assets. The group’s underlying net profit fell by 8.4 per cent to $A137.5m, with revenue totalling $A943m. Seven West’s TV business posted revenue of $A677m, which is one per cent lower than previously. Seven West anticipates an upturn in TV advertising revenue in the second half of 2014-15

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, BLOOMBERG LP, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, PACIFIC MAGAZINES PTY LTD, YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD