Shares in Kerry Stokes' Seven Group Holdings have soared on the firm's plans for a share buy-back and despite a 74 per cent drop in first-half profit to $68.4 million.
Following the money is always the best way to see what interests a rich man because it tells you two things – what he likes as an investment for future growth, and what he sees as having reached the limits of growth.
Kerry Stokes' Seven West Media has suffered a near $1 billion half-year loss after being forced to write down the value of its TV and newspaper businesses; underlying net profit, however, was only 8 per cent lower at $137.6 million.
Two of Perth's top radio stations are under new ownership after Fairfax Media sold 96FM for $78 million and merged its other national radio assets, including 6PR, with Macquarie Radio Network.
Jobs are to go at the ABC as the national broadcaster works out how it will operate with $254 million less in government funding over the next four years.
Network Ten has been the unloved step-sister of Australian TV in recent years but a string of would-be fairy godmothers are lining up to give the struggling broadcaster a Cinderella-like makeover.
Billionaire Gina Rinehart has quit the board of the Ten Network.Mrs Rinehart, who is one of Ten's major shareholders, will be replaced on the network's board by John Klepec.
Bitcoin trader Digital CC has claimed a profitable entry into the computer-generated currency sector, highlighting a $630,146 profit for three and a half months of business, despite the vehicle through which it conducted a backdoor listing recording an $11.8 million loss for the financial year.
Falling commodities prices have hammered Seven Group Holdings' results, with the Kerry Stokes-led company reporting a 46 per cent fall in full year profit to $261.1 million.
Seven West Media has posted a $149.2 million profit for 2013-14 helped by cost cuts and improved television earnings, which helped it turn around its $70 million loss a year earlier.
Mix 94.5 has continued to retain its lead as Perth’s favourite radio station while 92.9 lost 1.3 per cent of its listeners, according to the latest radio survey.
Perth technology entrepreneur Zhenya Tsvetnenko is taking another of his ventures public with a second reverse takeover of a struggling mining stock in four months.
Scoop Publishing has continued to expand its product line in a sign that founder David Hogan has no intentions of slowing the growth of Western Australia’s most recognised lifestyle magazine publisher.
Journalists and lawyers will soon be able to use electronic devices such as laptops, tablets and smartphones to access the internet and social media in Western Australian courts.
