Seven West Media

Foxtel to close Presto after buying out Seven

Australian pay TV operator Foxtel plans to close its SVOD service, Presto TV, after buying out joint venture partner Seven West Media. Presto will cease to operate on January 31, 2017, with its subscribers transferring to a new Foxtel Play product. They will be able to use the new platform from December. Presto was not […]

BBCWW raids Seven West for commercial chief

The BBC’s commercial arm in Australasia has hired the founder of Seven West Media’s live events division as its commercial director. Dustin Lockett (pictured) will join BBC Worldwide ANZ to oversee local activity of brands such as Doctor Who, Sherlock and BBC Earth. It is a new role. This comes soon after BBCWW ANZ restructured […]

Report: Seven to exit SVOD joint venture

Seven West Media is set to pull out of its joint venture subscription video-on-demand platform Presto, according to local reports. Rather than agreeing a full financial year agreement for the service with JV partner Foxtel, Seven Network’s parent reportedly has opted for a six month budget. The Australian reports Presto is under “extreme pressure” from […]

Seven mulls Yahoo7 buy-out

The parent of Australia’s Network Seven is considering buying out the co-owner of its Yahoo7 joint venture, after it emerged Verizon was acquiring digital and tech firm Yahoo. Seven West Media and Yahoo have jointly run online entertainment platform Yahoo7 for 17 years – initially as i7 before a 2006 rebrand, but with US-based telco […]

Broadcast veteran Leckie exits Seven

David Leckie is leaving Australian commercial broadcaster Seven Network and will take a full-time role elsewhere. According to local news outlets, negotiations with Seven have ended with Leckie not renewing a multi-year agreement when his contract expires. Therefore, he leaves the broadcaster after 13 years on July 29. Seven has been the top rated Australian […]

Foxtel ‘plots own streaming device’

Australian pay TV giant Foxtel is reported to be planning to launch a streaming device that would offer free and paid-for services. Billed by the Australian Financial Review as an “Apple TV-style streaming device”, the product could potentially offer Foxtel’s online streaming service Foxtel Play. The device would compete with Telstra TV, a television set […]

Seven parent swings into profit

The parent company of Australian commercial broadcaster Seven Network has posted a half-year underlying profit of A$140.3 million (US$100.7 million), turning round significant losses last year. Total revenues for Seven West Media’s financial half-year to December 26, 2015, were A$892.9 million. Most of this came from the firm’s TV assets. Earnings for the same period […]

Seven parent plunges with A$1.9bn loss

Seven West Media has posted a massive loss of A$1.89 billion (US$1.34 billion) in its 2015 full-year results. Despite SWM’s commercial channel, Network Seven, leading the Australian free TV ratings for the ninth year in a row, various impairments relating to TV licences saw earnings plunge into the red. Excluding these ‘significant items’ that totaled […]

Seven raising up to A$612m

Seven West Media, which owns Australia’s Seven Network, has laid out a plan to raise up to A$612 million (US$488.9 million) through a new rights issue. Depending on shareholder take-up, the A$1.25 per share issue could raise between A$150 million and A$612 million, a filing to the Australian Stock Exchange revealed. SWM also wants to […]

TV growth swings Seven back to profit

The parent firm of Australian broadcaster Seven Network has swung back into profit after reporting growth in its TV business. Full-year revenues at Seven West Media’s broadcast unit, which includes Seven and its affiliated linear and on-demand channels, has grown 3% year-on-year to A$1.3 billion (US$1.2 billion) – 70% of entire group sales. Earnings before […]