Mags next as Seven rings in changes

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

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

Seven set for tough result as ratings flop

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

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

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

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

Seven West open to closer News Corp ties

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

Wilson confident she can defeat Bauer Media appeal over payout

Original article by Broede Carmody
The Age – Page: 5 : 20-Apr-18

Bauer Media is challenging the size of its payout to actress Rebel Wilson after a Victorian jury found in 2017 that it had defamed her. Justice John Dixon awarded Wilson damages of $A4.5 million, which Bauer is now contesting in the Court of Appeal. Media is not challenging the judgment, but only the amount, which it claims is "manifestly excessive". It is also contesting Justice Dixon’s finding that Wilson should be compensated for roles she claims to have missed out on because of its actions, claiming that there was insufficient evidence on this issue.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, COURT OF APPEAL (VICTORIA), FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION

Wilson, Bauer quibble over costs

Original article by Adam Cooper
The Sydney Morning Herald – Page: 16 : 9-Mar-18

The Supreme Court of Victoria has been told that a cost consultant has estimated that Bauer Media should be liable for about $A1.12m of the legal costs incurred by Hollywood star Rebel Wilson in a lengthy defamation lawsuit. Wilson’s legal costs arising from the case were around $A1.4m in total, and she is seeking to recover $A1.3m in costs from Bauer, in addition to the $A4.56m in damages it was ordered to pay after losing the defamation case.

CORPORATES
BAUER MEDIA AUSTRALIA PTY LTD, SUPREME COURT OF VICTORIA