News Articles for Kerry Stokes

A new feature on the Business News web site that tracks the changing wealth of Western Australia's company directors shows Tony Lennon and Peter Cook are among the winners over the past month while Kerry Stokes and Andrew Forrest have gone down.

Seven West Media plans to make $25 million of job cuts in response to falling ad revenues and a highly competitive TV market.

Kerry Stokes-backed Beach Energy has agreed to buy Origin Energy's conventional oil and gas business Lattice Energy, which has a major stake in two operations in the Perth Basin, for nearly $1.6 billion.

Seven Group Holdings has raised $375 million to help it buy the remainder of equipment hire company Coates Hire, and plans to tap investors for a further $25 million.

Seven Group Holdings' shares have surged despite a profit slump, as the diversified group boosted equipment sales to the mining industry and gained $540 million from selling its WesTrac China business.

An improved iron ore price delivered huge boosts for mining magnates Gina Rinehart and Andrew Forrest, who were two of the three Western Australians to feature in the top 10 on the nation's best known rich list.

SPECIAL REPORT: A small group of ministers and backroom advisers close to Mark McGowan will set the agenda for the new state government.

OPINION: Western Australia has a new billionaire, or to be completely accurate, it has an old billionaire who has made another billion dollars over the past 12 months without anyone really noticing.

Kerry Stokes' Seven Group Holdings has slipped to a half-year loss of $41.8 million due to $145 million of write-downs almost entirely related to the value of its stake in Seven West Media.

Seven West Media appears to have put a value of $16.9 million on The Sunday Times newspaper and Perth Now website, as the publisher and broadcaster posted a sharp drop in first-half net profit and dividends, and sought to direct attention away from its ongoing battle with CEO Tim Worner's former lover.

Seven West Media chairman Kerry Stokes says Australia's high broadcast licence fees and lack of incentives for local content are making production in overseas markets more attractive.

Iron ore miner BC Iron has confirmed a $25.5 million capital raising backed by major shareholder Kerry Stokes to fund work at its Buckland project and pay off debt.

Today's news that the Australian Competition and Consumer Commission will allow Seven West Media to merge The West Australian with News Corporation's The Sunday Times newspaper should come as no surprise – consumers have been losing interest in both for some time.

Perth charity Telethon Adventurers has plans to expand nationally at the end of this year, following the success of recent fundraising and research programs.

Seven West Media shares fell more than 15 per cent after the company forecast a big drop in earnings for the year ahead because of a still-softer advertising market and the cost of broadcasting the Olympics.

Tim Levy has already built two successful businesses, and has global ambitions for his latest startup.

The clock is ticking for the leaders of some of WA's biggest businesses, beset by low growth and a sluggish outlook.

There were 23 Western Australians featured in this year's BRW Rich 200 List, with two new entrants and two others failing to make the cut.

Seven West Media has this morning confirmed plans to buy Perth's The Sunday Times newspaper and the Perth Now website from Rupert Murdoch's News Corporation.

The prospects of a Perth consumer newspaper monopoly are firming, with the Australian Competition and Consumer Commission preparing to review a tie-up between The West Australian and The Sunday Times.

SPECIAL REPORT: Wealthy Western Australians have made some eye-popping philanthropic pledges over the years but none as large as one of Gina Rinehart's recent moves.

BC Iron managing director Morgan Ball is stepping down from the junior iron ore company, to be replaced by one of Kerry Stokes top executives.

A new global ranking says Sydney is the top city in Australasia for the ultra-wealthy, but despite being home to Australia's richest woman, Perth failed to rate a mention.

Kerry Stokes has sold Malaga-based Landfill Gas and Power to a subsidiary of DUET Group for an undisclosed sum.

SPECIAL REPORT: There has been a major shift in business influence in WA amid waning international investment and, with two elections on the way, there is a prospect of even bigger changes in political influence. Click through to see our listing of WA's most infliential leaders in politics and business.

Kerry Stokes' Seven Group Holdings will undertake another share buy-back after tough market conditions pushed first-half profit down.

Kerry Stokes' Seven West Media expects a 10 per cent fall in full-year earnings as advertising markets in both TV and print show no signs of growth.

Fourteen years after being founded in Perth, equipment hire company Access Group Australia is taking on the big players in the Sydney market.

After five consecutive years at the top of Forbes Australia's rich list, mining magnate Gina Rinehart is no longer Australia's wealthiest person.

An industry consortium led by members of the Chamber of Fruit and Vegetable Industries in WA has been selected as the preferred bidder for Market City, putting the state government a step closer to its first major asset sale.

Approval has been granted for the first in a series of state government asset sales, with legislation to sell Market City passing parliament after a debate that went until almost dawn.

SPECIAL REPORT: For the second year running, the value of shares held by company directors in WA has fallen sharply, though some operators defied the trend.

Oil and gas producers Drillsearch Energy and Beach Energy plan to create a $1.2 billion company with the backing of major shareholder Kerry Stokes.

Sales at the Swan Brewery Industrial Estate have surpassed $70 million, with 55 lots at the Linc Property-developed estate sold since August last year.

Kerry Stokes' private company and three property investors are among five bidders shortlisted for the privatisation of Perth's major fruit and vegetable market, which includes the largest land development site in Canning Vale.

When newly appointed managing directors agree to work for nothing, it's a sure sign the cost pressures facing listed companies are getting more acute.

BHP still in the race for Chile's Zaldivar mine

Seven West Media has made four new board appointments including former Victorian premier Jeff Kennett and iiNet founder Michael Malone.

The oil price recovery to more than $US60 a barrel appears to be accelerating one of the biggest corporate shuffles ever by a Western Australian company, with Seven Group getting ready to consolidate ownership of the oilfields of South Australia.

Western Australia's resources boom drove asset values too high, just as the bust is driving asset values too low; but to best understand that point it's worth taking a trip to Canada, where the sale of a machinery distributor contains an interesting message for Australian investors.