Seven West Media profits drop

Tim Burrowes

August 22, 2013 12:31

Seven West Media – owner of the Seven Network, Pacific Magazines and The West Australian – has reported lower revenues and profits, and written down the value of its magazine business and joint venture Yahoo!7 in results announced to the ASX today.

The company reported EBITDA profts – earnings before interest, taxation, depreciation and amortisation – of $480m, down 10 per cent from 535m in the previous financial year.

As a result of the writedowns, the comapny said that its had made a loss after tax of $69.8m.

The company wrote down the value of PacMags by $227m and Yahoo!7 by $61.5m.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.