The chief executive of merged media giants Seven West Media and Southern Cross Austereo, Jeff Howard, has suddenly stepped down on the eve of his first financial results.
Our board moves wrap includes Mark Turner, Fong Hoon, Wade Johnson, Brian Rodan, Khomotso Mosehla, Robert [Max] Johnston, Winton Willesee, Jeff Howard, James Warburton, Sean Taylor, Alan Willis.
Kerry Stokes-chaired Seven West Media's newspaper division has recorded falls in advertising and circulation revenue alongside a 7 per cent slump in profit.
Seven West Media's television revenue will likely drop by eight per cent in the first half, CEO James Warburton has told the company's annual general meeting.
A significant increase in revenues spurred by a solid TV advertising market during the half year has buoyed Seven West Media's net profit by 3.2 per cent to hit $120.5 million.
Seven West executives have forecast full-year earnings that exceed analysts' estimates and say the momentum will continue with its Olympics and Ashes coverage.
Facebook has struck a preliminary news sharing agreement with Seven West Media, just hours after the federal government agreed to further amend its mandatory media bargaining code.
Seven West Media has today become the largest Australian news organisation to strike a content sharing agreement with Google, while also announcing a profit recovery.
Seven Group Holdings has withdrawn its market guidance on the back of falling advertising revenue and declining oil prices, on the same day that Seven West Media criticised a report it was entertaining a prospective sale of West Australian Newspapers Holdings.
Shares in Seven West Media have dropped to a record low after the media company posted a $67 million first-half loss as Australia's TV market continued its rapid decline.
Seven West Media has struck a deal to sell its magazine assets, which include Marie Claire, Men's Health and New Idea, to Bauer Media for $40 million in cash.
Seven West Media has announced an agreement to acquire regional TV broadcaster Prime Media, while the Kerry Stokes-chaired company will also divest its radio assets in Western Australia to Southern Cross Austereo.
Seven West Media aims to wring every drop of value from its traditional media assets after reporting a $444.5 million full-year loss and flagging another fall in earnings for the year ahead.
