Seven West Media’s new CEO, James Warburton has stepped up his axing of staff and programs with the Sunday Night pubic affairs program cut yesterday, as well as the company’s corporate affairs head and publicity people in Melbourne, Brisbane, Perth, and Adelaide.
What is going on at Kerry Stokes’ 41% owned Seven West Media? There are some very mixed up messages coming out of the embattled broadcaster and newspaper owner. In fact, based on what slipped out on Monday in Perth it looks more like a proprietor-driven domination of the WA media than anything sensible.
Seven West Media will pay around $75m per annum to broadcast simulcast cricket test matches and Big Bash with Foxtel. UBS believes the combination of cricket and tennis in FY19 could act as a catalyst for the Seven network and reverse underlying share declines.
Citi is lowering the company’s share of advertising revenue to 40% for the second half. The broker expects this share to be maintained into FY16 and then rising to 41% because of Olympic Games coverage.