Seven West Media

Last updated

Seven West Media Ltd.
Company type Public
ASX:  SWM
Industry Media
PredecessorWest Australian Newspapers Holdings Limited
Seven Media Group
Founded1992;32 years ago (1992)
Headquarters50 Hasler Road,
Osborne Park, Western Australia
,
Australia
Key people
 Kerry Stokes
(Chairman)
James Warburton
(Managing Director & CEO)
Products Television
Radio
Newspapers
Magazines
Websites
Owner Seven Group Holdings (40.2%)
Website sevenwestmedia.com.au
Footnotes /references
[1]
First Seven West logo (2011-2012) Sevenwestmedia logo.png
First Seven West logo (2011–2012)
Former Seven West logo (2012-2020) Seven West Media.svg
Former Seven West logo (2012–2020)

Seven West Media Limited is an Australian ASX-listed media company [2] and is Australia's largest diversified media business, with an extensive presence in broadcast television, radio, print and online publishing.

Contents

Seven Group Holdings Ltd (SGH), a company controlled by Australian Capital Equity, is Seven West Media's largest shareholder, with over $1 billion in Seven West Media shares and $250 million of Seven West Media convertible preference shares (CPS). [3]

Seven West Media owns the Seven Network, Australia's second largest commercial television network (by audience and advertising market share). It also owns The West Australian , The Sunday Times and the Community Newspaper Group.

On 21 February 2011, Seven Media Group announced its intention to merge with West Australian Newspapers Holdings Limited (WAN). WAN purchased Seven Media Group from Seven Group Holdings and partner U.S. private equity firm Kohlberg Kravis Roberts, and announced the new company would be known as "Seven West Media". [4] On 11 April 2011, the acquisition was approved by WAN shareholders. [5] On 21 May 2013, Kohlberg Kravis Roberts sold its remaining 12% stake in Seven West Media.

In May 2020, Seven West Media sold Pacific Magazines to Bauer Media Group, including leading lifestyle brands Marie Claire , Women's Health, Who, New Idea and Home Beautiful. [6] [7]

In February 2021, both Google and Facebook in Australia made deals with Seven West Media for the latter to provide news coverage. These agreements came after the government planned to implement a law "that would force tech companies to pay news outlets for content" [8] to ensure that digital platforms would provide a "contribution to the sustainability of the Australian news industry". [9]

On August 18, 2022, Seven West Media announced [10] it will take equity in View Media Group via its Seven West Ventures subsidiary.

History

The West Australian

The newspaper was owned by the publicly listed company West Australian Newspapers Ltd (WAN) from the 1920s. In 1969, the Melbourne-based The Herald and Weekly Times Ltd (HWT) bought WAN and published the paper until 1987, when Rupert Murdoch's News Corporation acquired HWT. News sold WAN to Robert Holmes à Court's Bell Group in 1987 [11] The following year Alan Bond, through Bond Corporation, gained control of Bell Group and hence the paper. This ownership structure survived only for a few years until the collapse of Bond Corporation. A newly formed company, West Australian Newspapers Holdings, then purchased the paper from the receivers before being floated in an oversubscribed $185 million public offering. [12]

In September 2007, WAN sold a 50% interest in the Hoyts Cinemas Group. [13]

Kerry Stokes acquired 14.9% through Seven Network and he became chairman of West Australian Newspapers in 2009. Kerry Stokes appointed Chris Wharton as CEO of West Australian Newspapers and Brett McCarthy as Editor. [14] [15] [16]

Seven Media Group

Seven Network (commonly known as Channel 7 or simply Seven) dates back to 4 November 1956, when the first stations on the VHF7 frequency were established in Melbourne and Sydney. The Seven Network is one of five main free-to-air networks in Australia.

Origin

The Seven Network began as a group of independent stations in Sydney, Melbourne, Brisbane, Adelaide and Perth. [17] HSV-7 Melbourne, licensed to The Herald and Weekly Times Ltd (owners of two local papers at the time, The Herald and The Sun ), was the first station in the country to use the VHF7 frequency. [17] [ failed verification ] It launched on 4 November 1956, soon joined on 2 December by Amalgamated Television Services ATN-7 in Sydney. [18]

TVW-7 Perth began broadcasting almost two years later, on 16 October 1959, as the city's first commercial station. It was licensed to TVW7, a subsidiary of West Australian Newspapers, publisher of The West Australian. [17] BTQ-7 followed on 1 November, signing on as Brisbane's second commercial television station. [17] [18] In 1969 the Melbourne based Herald and Weekly times group purchased WA Newspapers . The HWT group already owned HSV 7 and ADS 7 and under the media laws of the time was required to sell TVW 7. A new company was formed and floated on the Perth Stock Exchange, TVW Enterprises Pty Ltd.

ADS-7 in Adelaide launched on 24 Oct 1959 as the final capital city VHF7 station. TVW Enterprises purchased Adelaide's SAS 10 in 1971. In 1987 ADS 7 station swapped frequencies with SAS-10, with the latter becoming SAS-7. [17]

1980s ownership changes

Perth-based businessman Robert Holmes à Court, through his business the Bell Group, completed a takeover on TVW Enterprises in 1982. [18] The Herald and Weekly Times, owner of HSV-7 and ADS-7, was sold to Rupert Murdoch in December 1986. [18] Murdoch's company, News Limited, sold off HSV to Fairfax soon afterwards, for $320 million, while ADS 7 was sold to Frank Lowys Northern Star ( owners of the 10 Network stations in Sydney and Melbourne). [18] Fairfax went on to axe a number of locally produced shows in favour of networked content from its Sydney counterpart, ATN-7 (also owned by Fairfax at the time). [19]

In 1987, Fairfax sold off its stations to Qintex Ltd., owned by businessman Christopher Skase. [19] Qintex had previously bought, and subsequently sold off, stations in Brisbane and regional Queensland before taking control of the network. [18] The next year, another new logo was introduced along with evening soap opera Home and Away and a relaunched Seven National News, now known as Seven News. The network expanded in 1988 when Skase bought out Bell Groups two stations for $130 million creating the first owned and operated national network of the five mainland city Channel 7 stations. [19]

A failed $1.5 billion bid for MGM Studios in the same year sent Qintex into receivership. [18] Christopher Skase fled Australia in 1990 in order to escape extradition. [19] The business' assets were bundled together by receivers and made into a new company, the Seven Network Limited, in 1991. [18]

Advent of Kerry Stokes

The network was re-listed as a public company on the stock exchange in 1993 with News Limited holding 14.9% and Telstra holding 10%.[ citation needed ] In 1995, Stokes acquired 19.9% of the public company and was elected chairman. He asked Alan Jackson to be its CEO for a number of years in the late 1990s. [20] Shortly after it acquired Sunshine Television, a Seven Network affiliate in regional Queensland, Sunshine Television's regional stations effectively became a part of the Seven Network, identical in appearance and programming to the rest of the business' stations. Seven Queensland won the annual audience ratings for the first time in 1998. [21]

The year 2000 saw Seven as the host broadcaster for the Sydney Olympics. The Network adopted a new logo. In 2003, Stokes appointed David Leckie as CEO of Seven and Peter Meakin as Head of News and Current Affairs. In January 2006, the Seven Network, Pacific Magazine and online portal Yahoo! Australia and New Zealand combined in a joint venture to form Yahoo!7, representing all three companies' online assets. [22] This venture is now Australia's most popular internet portal [ citation needed ] and the joint venture is driving a range of online and IPTV businesses. Seven is building and acquiring a range of broadband businesses, including wireless broadband group Unwired, VOIP operator Engin and has become the Australian licensee for TiVo, [23] due to be launched in 2008. The group has also established a strategic 20 per cent shareholding in West Australian Newspapers Ltd.

Since 2007, the Seven Network has been the highest rating television network in Australia, ahead of the Nine Network, Network Ten, ABC and SBS. [24] In 2011, the Seven Network won all 40 out of 40 weeks of the ratings season for total viewers. [25] Seven is the first to do this since the introduction of the OZtam ratings system in 2001. [26] As of 2014 it was the second largest network in the country in terms of population reach. [27]

68% owned by Kerry Stokes (as of 2014), Seven Network is a network of commercial free-to-air television stations in Sydney, Melbourne, Brisbane and Adelaide, as well as regional Queensland and Perth. [28] The platform, as well as a 33 per cent stake in Sky News Australia, now reaches 98 per cent of Australians. Seven has also established a major magazine publishing business, Pacific Magazines which, as of 2014, accounted for more than 20 per cent of magazines sold in Australia.

In 2006, Seven Network and Kohlberg Kravis Roberts & Co (KKR) [29] created a new joint venture, Seven Media Group, a multi-faceted media company combining a presence in broadcast television, magazine and online applications.

7HD was officially announced on 15 September 2007, with the Seven Media Group announcing its intention to start a high definition multichannel. [30] By the end of 2007, the Seven Network had become the most watched network in the country, dominating morning and prime time slots. [31]

Key people

The Chairman of Seven West Media is Kerry Stokes AC, who is also chairman of Seven Group Holdings.

On 26 June 2012, Seven West Media announced former Nine Network executive David Leckie's transition from chief executive officer of Seven West Media to a new role as executive director, media for Seven Group Holdings. [32]

Don Voelte, the former managing director and CEO of Woodside and a director of Seven West Media, was appointed CEO and managing director of Seven West Media. He subsequently stepped down to become managing director and chief executive officer of Seven Group Holdings and was replaced by Tim Worner who became the CEO. [33]

Assets

Television

News and other

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References

  1. ↑ "Seven West Media – Contact Us". sevenwestmedia.com.au.
  2. ↑ "Share Price & Information – ASX". asx.com.au.
  3. ↑ WAN Proposal to Acquire Seven Media Group, 8 March 2011, p.4
  4. ↑ Smith, Sean WAN to buy Seven's media assets for 4.1 billion at The West Australian , 21 February 2011. Retrieved 31 August 2014
  5. ↑ West Australian Newspapers to buy Seven Media at MarketWatch, 20 February 2011. Retrieved 31 August 2014
  6. ↑ Mason, Max. Seven completes $40m sale of PacMags to Bauer. Australian Financial Review , 1 May 2020
  7. ↑ Seven completes mag sale to Bauer Media TV Tonight, 1 May 2020
  8. ↑ "Seven West Media announces news agreement with Facebook". ABC News. 23 February 2021. Retrieved 23 February 2021. proposed news media bargaining code that would force tech companies to pay news outlets for content.
  9. ↑ "Facebook will restore news in Australia after talks with the government". CNN. 23 February 2021. Retrieved 23 February 2021. Google, meanwhile, had already been trying to get ahead of the new legislation by announcing partnerships with some of the country's largest media organizations, including Rupert Murdoch's News Corp (NWS) and Seven West Media. Facebook revealed its own deal with Seven on Tuesday.
  10. ↑ "Seven and Catalano join forces on real estate venture". AFR .
  11. ↑ Bond, Bell and Holmes a Court:Bell at Ketupa.net media industry reference
  12. ↑ "175 years of The West Australian - Australian-Media.com.au News". australian-media.com.au.
  13. ↑ "B&T - Australia's leading title for the advertising, marketing, media and PR industries". B&T.
  14. ↑ Nick Perpitch Brett McCarthy goes from Sunday to weekdays at The West Australian The Australian 16 March 2009
  15. ↑ How The West Australian was won by Kerry Stokes The Australian, 4 December 2008
  16. ↑ Chris Wharton – Chief Executive Officer Corporate information on official website
  17. 1 2 3 4 5 Timeline 1950-1959 at television.au.com
  18. 1 2 3 4 5 6 7 8 Arnold, Bruce. "Seven: landmarks". Ketupa.net. Caslon Analytics. Archived from the original on 6 August 2007. Retrieved 7 August 2007.
  19. 1 2 3 4 Brooklyn Ross-Hulands. "Seven Network 1980s". AusTVHistory. Archived from the original on 26 June 2007. Retrieved 27 June 2007.
  20. ↑ Clive Mathieson. "Stokes vs Packer: A media mogul death math". The Punch. Retrieved 10 July 2009.
  21. ↑ Brooklyn Ross-Hulands. "Sunshine Television History". AusTVHistory. Archived from the original on 15 August 2006. Retrieved 27 June 2007.
  22. ↑ "Yahoo!7 Redefines Australian Media Landscape" (PDF). Seven Media Group. 30 January 2006. Archived from the original (PDF) on 28 February 2008. Retrieved 21 February 2008.
  23. ↑ Joint Seven and TiVo announcement – 30 May 2007
  24. ↑ Enker, Debi (13 December 2007). "The stars of 2007". The Age Online. Melbourne.
  25. ↑ "Seven Dominates in 2011" (PDF). Seven West Media. Retrieved 8 March 2012.
  26. ↑ "Seven dominates 2011 ratings". TV Tonight.
  27. ↑ "Broadcasting Services Act 1992 Section 30 Schedule" (PDF). Australian Communications and Media Authority. Archived from the original (PDF) on 29 November 2007. Retrieved 6 June 2007.
  28. ↑ James Thomson. "Independent expert says Kerry Stokes' Seven Network and WesTrac merger is fair, but small shareholders might need convincing". Smart Company. Retrieved 17 March 2010.
  29. ↑ Damon, Kitney; Clegg, rett (20 November 2006). "Stokes, KKR in $3.5bn Seven deal". Australian Financial Review. pp. 1, 14. (Subscription required to view full story)
  30. ↑ "Seven, Ten to offer HD-TV". The Australian. 15 September 2007. Archived from the original on 18 October 2007. Retrieved 15 September 2007.
  31. ↑ Kerry Stokes at the Top 50 2012 Businesses, The Australian. Requires subscription for online access.
  32. ↑ David Leckie announces new role as Executive Director, Seven Group Holdings and Don Voelte appointed Managing Director and Chief Executive Officer of Seven West Media at Mumbrella, 26 June 2012.
  33. ↑ "Seven West Media - About Us - Board of Directors". sevenwestmedia.com.au.
  34. ↑ "bloo Business Search - WA". bloo.com.au.
  35. ↑ Caporn, Dylan (26 February 2024). "The Nightly: Seven West Media launches Australia's groundbreaking new digital newspaper" . The West Australian . Perth: Seven West Media. Archived from the original on 26 February 2024. Retrieved 26 February 2024.
  36. ↑ Seven West Media. "Find the Best Jobs. Identify the Best Candidates - JobFinder.com.au". JobFinder.com.au.
  37. ↑ About The Quokka
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