News Articles for Tim Worner

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.

Tim Worner's six years as Seven West Media chief executive have come to an abrupt end, with chairman Kerry Stokes saying "now is the time for change".

Seven West Media has sold its stake in Yahoo7 to communications and tech giant Verizon for $21 million and says its rebranded online news sites are already outstripping performances under the former joint venture.

Seven West Media has swung to a full-year profit for the 2018 financial year, while also announcing a five-year extension to its long-standing program supply agreement with Prime Media Group.

Seven West Media's first-half profit has risen to $100.7 million but the broadcaster has temporarily suspended its dividend to focus on managing expenses.

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

Seven West Media chief executive Tim Worner has wrapped up a controversy-laden year with a pay cut as the company suffered a $744 million loss, courtesy of persistent weak ad revenues and a massive writedown on its broadcast licences.

Seven West Media has appointed John Driscoll as its regional chief executive for Western Australia.

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 has secured an interim injunction against chief executive Tim Worner's former lover as it seeks to stop her releasing what it says are confidential documents she should not possess.

The Australian Shareholders' Association has called for companies to do a better job of communicating with their shareholders, following the resignation of a Seven West Media director on the eve of today's report on misconduct allegations against chief executive Tim Worner.

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.

The first Sunday Times newspaper to be published under ownership of Seven West Media will be printed later this month, after purchase contracts were officially signed today.

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.

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.

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.

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.

Seven West Media chief executive Tim Worner says the TV network is "facing and embracing" the challenge of digital and has sought to position the broadcaster's scale as an edge in reaching new online audiences.

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

Business leader Kerry Stokes says the Western Australian economy is heading for its toughest period in two decades, but expects the state will resume healthy growth within a couple of years.

FEATURE: Salaries have come under huge pressure during the past year as widespread cost cutting takes its toll on executives' take-home pay.