Seven West Media: Difference between revisions
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'''Seven West Media''' Limited is an [[Australian Securities Exchange|ASX]]-listed media empire ({{ASX|SWM}}) and is Australia’s largest diversified media business, formed by the sale of Seven Media Group to West Australian Newspapers Holdings Limited (WAN). It has a leading presence in broadcast television, radio, newspaper publishing, magazine publishing and online. |
'''Seven West Media''' Limited is an [[Australian Securities Exchange|ASX]]-listed media empire ({{ASX|SWM}}) and is Australia’s largest diversified media business, formed by the sale of Seven Media Group to West Australian Newspapers Holdings Limited (WAN). It has a leading presence in broadcast television, radio, newspaper publishing, magazine publishing and online. |
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Seven Group Holdings is Seven West Media’s largest shareholder with |
Seven Group Holdings Ltd (SGH), a company controlled by Australian Capital Equity (ACE), is Seven West Media’s largest shareholder with 33% of Seven West Media shares and $250m Seven West Media Convertible Preference Shares(CPS). |
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Seven West Media owns two of Australia’s iconic media assets: Australia’s largest commercial television network (by audience and advertising market share) |
Seven West Media owns two of Australia’s iconic media assets: Australia’s largest commercial television network (by audience and advertising market share) Seven Network; and The West Australian, the leading metropolitan newspaper in Western Australia.<ref>{{cite news |
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| url=http://www.theaustralian.com.au/top50/2012/kerry-stokes/story-fnbtudzs-1226263968888 |
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|author= Top 50 2012 Businesses |
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|work = The Australian Online |
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| date=10 February 2012 |
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| location=Sydney |
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| title=Kerry Stokes}}</ref> |
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It also owns the second largest publisher of magazines in Australia, Pacific Magazines, and 21 West Australian regional newspapers, nine regional radio licences, a specialist publishing business and WAN’s digital division. |
It also owns the second largest publisher of magazines in Australia, Pacific Magazines, and 21 West Australian regional newspapers, nine regional radio licences, a specialist publishing business and WAN’s digital division. |
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| url = http://www.sevengroup.com.au/about-seven/ |
| url = http://www.sevengroup.com.au/about-seven/ |
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| accessdate = 01 May 2011 }}</ref> |
| accessdate = 01 May 2011 }}</ref> |
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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 Network Limited|Seven Group Holdings]] and partner [[Kohlberg Kravis Roberts & Co.]], and announced the new company would be known as "Seven West Media".<ref name="au.news.yahoo.com">http://au.news.yahoo.com/thewest/a/-/newshome/8874283/wan-to-buy-sevens-media-assets-for-4-1b/ WAN to buy Seven's media assets for 4.1 billion</ref> |
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 Network Limited|Seven Group Holdings]] and partner [[Kohlberg Kravis Roberts & Co.]], and announced the new company would be known as "Seven West Media".<ref name="au.news.yahoo.com">http://au.news.yahoo.com/thewest/a/-/newshome/8874283/wan-to-buy-sevens-media-assets-for-4-1b/ WAN to buy Seven's media assets for 4.1 billion</ref> |
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On 11 April 2011, Seven West Media was created through the acquisition of Seven Media Group by West Australian Newspapers Holdings Limited (WAN) as approved by WAN shareholders. <ref>http://www.marketwatch.com/story/west-australian-newspapers-to-buy-seven-media-2011-02-20</ref> |
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==History== |
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Seven West Media was created through the acquisition of Seven Media Group by West Australian Newspapers Holdings Limited (WAN) as approved by WAN shareholders on 11 April 2011. Seven West Media is the leading, listed national multi-platform media business based in Australia. We comprise Seven Television, the leading free to air capital city television network; Pacific Magazines, the country's second largest magazine group by readership; Yahoo!7 one of the nation’s most successful internet platforms, as well as Western Australia's leading newspaper, The West Australian and associated WA regional newspapers and radio stations. |
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==Assets== |
==Assets== |
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* 67% of Hybrid Television Services exclusive licensee of [[TiVo]] in Australia and NZ from 2008 [http://home.tivo.com.au/] |
* 67% of Hybrid Television Services exclusive licensee of [[TiVo]] in Australia and NZ from 2008 [http://home.tivo.com.au/] |
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See also the newspaper and radio interests of [[West Australian Newspapers Holdings Limited]] |
See also the newspaper and radio interests of [[West Australian Newspapers Holdings Limited]]. |
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===West Australian Newspapers Holding Ltd === |
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== Corporate ownership == |
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''The 'West Australian'' was owned by the publicly-listed company ''West Australian Newspapers Ltd'' from the 1920s. In 1969, the Melbourne based [[The Herald and Weekly Times Ltd]] bought WAN and published the paper until 1987 when it was sold to [[Robert Holmes à Court]]'s ''Bell Group'' in 1987 when the remainder of H&WT was bought by [[Rupert Murdoch]]'s [[News Corporation]].<ref>[http://www.ketupa.net/bond1.htm#eighties Bond, Bell and Holmes a Court:Bell] at Ketupa.net media industry reference</ref> The following year [[Alan Bond (businessman)|Alan Bond]], through ''Bond Corporation'', gained control of Bell Group and hence the paper. This ownership structure only survived 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 [[initial public offering|floated]] in an oversubscribed $185 million public offering.<ref name="175 years of The West Australian">[http://www.australian-media.com.au/index.php?c=home&p=news&article=7823 175 years of The West Australian]</ref> Chairman [[Trevor Eastwood]] announced in the annual report that the company was listed on the [[Australian Securities Exchange]] ({{asx|SWM}}) on 9 January 1992. A management fee of $217,000 and underwriting/brokers handling fee of $1,981,136 were paid to companies associated with former short-term directors John Poynton and J. H. Nickson.<ref>West Australian Newspapers Holdings Limited Annual Report, 1992, p 33</ref> February 2011: After acquired [[Seven Media Group]], West Australian Newspapers Holding Ltd. became Australia's largest diversified media business.<ref>http://www.marketwatch.com/story/west-australian-newspapers-to-buy-seven-media-2011-02-20</ref> |
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===West Australian Newspapers Holdings Ltd=== |
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In addition to ''The West'', West Australian Newspapers Holdings Limited owns a number of other media outlets.<ref>[http://www.thewest.com.au/default.aspx?MenuID=78&ContentID=68 About Us] ''The West'' official site</ref> |
In addition to ''The West'', West Australian Newspapers Holdings Limited owns a number of other media outlets.<ref>[http://www.thewest.com.au/default.aspx?MenuID=78&ContentID=68 About Us] ''The West'' official site</ref> |
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* 23 regional newspapers and magazines |
* 23 regional newspapers and magazines |
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In September 2007, WAN sold a 50% interest in the [[Hoyts|Hoyts Cinemas Group]].<ref>[http://www.bandt.com.au/news/60/0c050860.asp PBL and WAN sell Hoyts for $440m]</ref> |
In September 2007, WAN sold a 50% interest in the [[Hoyts|Hoyts Cinemas Group]].<ref>[http://www.bandt.com.au/news/60/0c050860.asp PBL and WAN sell Hoyts for $440m]</ref> |
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== Key People == |
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===Seven Network's 2008 battle for control=== |
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Chairman of Seven West Media is Kerry Stokes AC, who is also chairman of Seven Group Holdings, David Leckie is Group Chief Executive Officer of Seven West Media, with the others in the executive team being Tim Worner, CEO of Seven Network Television, Chris Wharton, Chief Executive Officer, WAN/WA Media; Nick Chan, CEO of Pacific Magazines; Kurt Burnette, Chief Sales and Digital Officer; Peter Lewis, Chief Financial Officer; Rohan Lund, CEO of Yahoo7!; Bruce McWilliam, Commercial Director; and Peter Bryant, Chief Financial Officer WAN.<ref name="Seven West Media – Board of Directors"> http://www.sevenwestmedia.com.au/about-us/board-of-directors] </ref> |
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In March 2008, major shareholder Seven Network Limited initiated an extraordinary general meeting to consider removal of all non-executive directors.<ref>[http://www.sevencorporate.com.au/_uploads/Files/Announcement_SNL_WAN_250208.pdf Seven Network Limited calls for removal of WAN Board]</ref> |
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Seven Network's chairman [[Kerry Stokes]] criticised the WAN board's "lack of leadership". A new website ("Refresh The West") was simultaneously launched, directly targeting the board of West Australian Newspaper Holdings (WAN).<ref>[http://www.refreshthewest.com.au/ Refresh The West] Channel 7 campaign website, which was reduced after the victory to a message of thanks to supporters.</ref> At a business breakfast in April, Stokes held up a copy of ''[[The Sunday Times]]'' and said it was a superior newspaper that ''The West'' should try to emulate.<ref name=perpitch/> |
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== History == |
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The shareholder meeting was held on 23 April 2008, preceded by reports that Stokes was seeking two seats on the WAN board.<ref>[http://www.abc.net.au/7.30/content/2007/s2224564.htm Stokes bids for seat on WA Newspapers board] ABC The 7.30 Report, 23 April 2008</ref> The motion on notice was defeated by proxy votes.<ref>Cardy T and [[Australian Associated Press|AAP]] [http://www.news.com.au/perthnow/story/0,21598,23585838-2761,00.html Kerry Stokes concedes defeat in bid for WAN board seats] PerthNow, 23 April 2008</ref> |
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''The West Australian'' was owned by the publicly-listed company ''West Australian Newspapers Ltd'' from the 1920s. In 1969, the Melbourne based [[The Herald and Weekly Times Ltd]] 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 <ref>[http://www.ketupa.net/bond1.htm#eighties Bond, Bell and Holmes a Court:Bell] at Ketupa.net media industry reference</ref> The following year [[Alan Bond (businessman)|Alan Bond]], through ''Bond Corporation'', gained control of Bell Group and hence the paper. This ownership structure only survived 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 [[initial public offering|floated]] in an oversubscribed $185 million public offering.<ref name="175 years of The West Australian">[http://www.australian-media.com.au/index.php?c=home&p=news&article=7823 175 years of The West Australian]</ref> 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. <ref name=perpitch>Nick Perpitch [http://www.theaustralian.com.au/news/mccarthy-goes-from-sunday-to-weekdays/story-e6frg6no-1111119143539 Brett McCarthy goes from Sunday to weekdays at The West Australian] ''The Australian'' 16 March 2009</ref> <ref>[http://www.theaustralian.news.com.au/business/story/0,28124,24748286-7582,00.htm How The West Australian was won by Kerry Stokes] The Australian, 4 December 2008</ref> <ref>[http://info-thewest.anittel.net/wancorporate/ceoanddirectors.html Chris Wharton – Chief Executive Officer] Corporate information on official website</ref> |
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== Seven Media Group == |
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As a result of subsequent negotiations, a joint statement was issued on 16 September 2008 saying the WAN board had been increased from five to seven members, the two new seats being taken up by Kerry Stokes and fellow Seven director Peter Gammell.<ref>Ricketson M [http://business.smh.com.au/business/stokes-gets-his-seat-on-west-australian-board-20080916-4hw7.html Stokes gets his seat on West Australian board] Sydney Morning Herald BusinessNow, 17 September 2008</ref> On 3 December 2008, Stokes achieved total victory when WAN's chief executive, chairman and two independent directors quit en masse.<ref>[http://www.theaustralian.news.com.au/business/story/0,28124,24748286-7582,00.htm How The West Australian was won by Kerry Stokes] The Australian, 4 December 2008</ref> Stokes became chairman and, within a fortnight, ''The West Australian'''s controversial editor [[Paul Armstrong (editor)|Paul Armstrong]] was sacked. He was eventually replaced by former ''[[Sunday Times]]'' editor Brett McCarthy on 15 March 2009.<ref name=perpitch>Nick Perpitch [http://www.theaustralian.com.au/news/mccarthy-goes-from-sunday-to-weekdays/story-e6frg6no-1111119143539 Brett McCarthy goes from Sunday to weekdays at The West Australian] ''The Australian'' 16 March 2009</ref> Seven's managing director [[Chris Wharton]] filled the CEO position and four additional directors were appointed.<ref>[http://info-thewest.anittel.net/wancorporate/ceoanddirectors.html Chris Wharton – Chief Executive Officer] Corporate information on official website</ref> The group's editor-in-chief is [[Bob Cronin]]<ref name=shunted>Chris Thomson [http://www.theage.com.au/business/west-australian-editor-armstrong-shunted-20081216-6zj0.html West Australian editor Armstrong shunted] [[The Age]] BusinessDay 16 December 2008</ref> whose authoritarian style caused resentful employees to nickname him "Cronin the Barbarian" in the 1980s. |
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[[Seven Network]] (commonly known as Channel 7 or simply Seven) dates back to 4 November 1956, when the first stations on the [[Very high frequency|VHF7]] frequency were established in Melbourne and Sydney. The Seven Network is one of five main free-to-air networks in Australia. |
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Since 2007, the Seven Network has been the highest rating television network in Australia, ahead of the [[Nine Network]], [[Network Ten]], [[ABC Television|ABC]] and [[Special Broadcasting Service|SBS]].<ref>{{cite news |
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===Seven West Media (Seven Media Group Merger)=== |
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| url=http://www.theage.com.au/news/tv--radio/the-stars-of-2007/2007/12/12/1197135533655.html |
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On 21 February 2011, West Australian Newspapers Holdings Limited and Seven Media Group announced their intentions to merge. "Seven West Media" would be created by Western Australian Newspapers purchasing Seven Media Group from [[Seven Network Limited|Seven Group Holdings]] and partner [[Kohlberg Kravis Roberts & Co.]]<ref name="au.news.yahoo.com"/> |
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|author=Enker, Debi |
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|work = The Age Online |
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| date=13 December 2007 |
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| location=Melbourne |
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| title=The stars of 2007}}</ref> |
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In 2011 the Seven network won all 40 out of 40 weeks of the ratings season for total viewers.<ref>{{cite web|url=http://www.sevenwestmedia.com.au/docs/business-unit-news/seven-dominates-in-2011.pdf |title=Seven Dominates in 2011 |publisher=Seven West Media |date= |accessdate=2012-03-08}}</ref> Seven is the first to do this since the introduction of the OZtam ratings system in 2001.<ref>http://www.tvtonight.com.au/2011/11/seven-dominates-2011-ratings.html</ref> It is currently the second largest network in the country in terms of population reach.<ref>{{cite web |
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| title = Broadcasting Services Act 1992 Section 30 Schedule |
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| publisher = Australian Communications and Media Authority |
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| url = http://www.acma.gov.au/webwr/aba/licplan/planning/licareas/documents/bsa1992section30schedule.pdf |
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| archiveurl = http://web.archive.org/web/20071129035624/http://www.acma.gov.au/webwr/aba/licplan/planning/licareas/documents/bsa1992section30schedule.pdf |
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| archivedate = 29 November 2007 |
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| accessdate =6 June 2007 |
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}}</ref> |
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=== History of Seven Media Group === |
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The Seven Network began as a group of independent stations in Sydney, Melbourne, Brisbane, Adelaide and Perth.<ref name="Televisionau-50's">{{cite web |
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*[[Seven Network]] |
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|url= http://www.televisionau.com/fifties.htm |
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*[[Pacific Magazines]] |
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|title= History of AustralianTelevision:The Fifties |
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*[[Yahoo!7]] (50% stake) |
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|publisher= Televisionau |
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*[[Sky News Australia]] (33% stake)<ref name="iia.net.au"/> |
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| accessdate = 23 March 2012 |
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* 67% of Hybrid Television Services exclusive licensee of [[TiVo]] in Australia and NZ from 2008 [http://home.tivo.com.au/] |
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}}</ref> |
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[[HSV (TV station)|HSV-7]] [[Melbourne]], licensed to [[The Herald and Weekly Times Ltd]] (owners of two local papers at the time, [[The Herald (Melbourne)|The Herald]] and [[The Sun News-Pictorial|The Sun]]), was the first station in the country to use the [[VHF]]7 frequency.<ref name="Televisionau-50's" /> It launched on 4 November 1956, soon joined on 2 December by ''Amalgamated Television Services'' [[ATN]]-7 in Sydney.<ref name="caslon">{{cite web |
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|url= http://www.ketupa.net/seven2.htm |
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|title= Seven: landmarks |
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|accessdate=7 August 2007 |
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|author= Bruce Arnold |
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|publisher= Caslon Analytics |
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}}</ref> |
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[[TVW]]-7 Perth began broadcasting almost two years later, on 16 October 1959, as the city's first commercial station. It was licensed to ''TVW Limited'', a subsidiary of [[The West Australian|West Australian Newspapers]], publisher of [[The West Australian]].<ref name="Televisionau-50's" /> [[BTQ]]-7 followed on 1 November, signing on as Brisbane's second commercial television station.<ref name="Televisionau-50's" /><ref name="caslon" /> |
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[[ADS (TV station)|ADS]]-7 in Adelaide launched on 24 Oct 1959 as the final capital city VHF7 station. The station later swapped frequencies with [[ADS (TV station)|SAS-10]], however, with the latter becoming [[SAS (TV station)|SAS-7]]<ref name="Televisionau-50's">{{cite web |
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|url= http://www.televisionau.com/fifties.htm |
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|title= History of Australian Television: The Fifties |
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|publisher= Televisionau |
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|accessdate = 23 March 2012 |
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}}</ref> |
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[[Perth, Western Australia|Perth]]-based businessman [[Robert Holmes à Court]], through his business the Bell Group, bought [[TVW]]-7 from its original owners, [[The West Australian|West Australian Newspapers]] in 1982.<ref name="caslon" /> [[The Herald and Weekly Times Ltd|The Herald and Weekly Times]], owner of [[HSV (TV station)|HSV]]-7 and [[ADS (TV station)|ADS]]-7, was sold to [[Rupert Murdoch]] in December 1986.<ref name="caslon" /> Murdoch's company, [[News Limited]], sold off HSV to Fairfax soon afterwards, for $320 million.<ref name="caslon" /> 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).<ref name="atvh-80s" /> |
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In 1987 forced Fairfax sold off its stations to [[Qintex|Qintex Ltd.]], owned by businessman [[Christopher Skase]].<ref name="atvh-80s" /> Qintex had previously bought, and subsequently sold off, stations in [[Brisbane]] and regional Queensland before taking control of the network.<ref name="caslon" /> The next year, another new logo was introduced along with evening soap ''[[Home and Away]]'' and a relaunched ''Seven National News'', now known as ''Seven News''. The network expanded in 1988 when Skase bought out [[TVW]] for $130 million.<ref name="atvh-80s">{{cite web |
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|url= http://www.austvhistory.com/seven/80s.htm |
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|title= Seven Network 1980s |
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|accessdate=27 June 2007 |
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|author= Brooklyn Ross-Hulands |
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|publisher= AusTVHistory |
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}}{{Dead link|date=January 2010}}</ref> |
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A failed $1.5 billion bid for [[Metro-Goldwyn-Mayer|MGM Studios]] in the same year sent Qintex into receivership.<ref name="caslon" /> Christopher Skase fled Australia in 1990 in order to escape extradition.<ref name="atvh-80s" /> The business' assets were bundled together by receivers and made into a new company, the [[Seven Network Limited]], in 1991.<ref name="caslon" /> |
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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%.<ref>{{cite web |
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|url= http://www.acma.gov.au/webwr/aba/newspubs/radio_tv/investigations/documents/ownership_control/seven.pdf |
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|title= Investigation Into Control |
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|accessdate=April 1996 |
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||publisher= Australian Broadcasting Authority |
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}}</ref> |
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In 1995 Stokes acquired 19.9% of the public company and was elected Chairman.<ref>{{cite web |
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|url= http://www.thepunch.com.au/articles/stokes-vs-packer-a-media-mogul-death-match/ |
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|title= Stokes vs Packer: A media mogul death math |
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|accessdate=10 July 2009 |
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|author= Clive Mathieson |
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|publisher= The Punch |
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}}</ref> |
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Shortly after it aquired [[STQ|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.<ref>{{cite web |
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|url= http://www.austvhistory.com/7qld/index.htm |
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|title= Sunshine Television History |
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|accessdate=27 June 2007 |
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|author= Brooklyn Ross-Hulands |
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|publisher= AusTVHistory |
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}}{{Dead link|date=January 2010}}</ref> |
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Now 68% owned by [[Kerry Stokes]], [[Seven Network]] is a network of commercial free-to-air television stations in Sydney, Melbourne, [[Brisbane]] and [[Adelaide]], as well as regional [[Queensland]] & [[Perth, Western Australia|Perth]].<ref>{{cite web |
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|url= http://www.smartcompany.com.au/construction-and-engineering/037607-20100317-independent-expert-says-kerry-stokes-seven-network-and-westrac-merger-is-fair-but-small-shareholders-might-need-convincing.html |
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|title= Independent expert says Kerry Stokes' Seven Network and WesTrac merger is fair, but small shareholders might need convincing |
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|accessdate=17 March 2010 |
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|author= James Thomson |
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|publisher= Smart Company |
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}}</ref> 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 now accounts for more than 20 per cent of all magazines sold in Australia. |
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The year 2000 saw Seven as the host broadcaster for Sydney Olympics, with the relaunch of the Network with an updated logo and a new promotional campaign. In 2003, Stokes appointed David Leckie to 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.<ref>{{cite news| title = Yahoo!7 Redefines Australian Media Landscape| publisher = Seven Media Group| date = 30 January 2006| url = http://sevencorporate.com.au/_uploads/Files/1138585381359_0.6128006964381489.pdf| accessdate =21 February 2008}}</ref> |
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This venture is now Australia's most popular internet portal 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 Limited|Engin]] and has become the Australian licensee for [[TiVo]],<ref>Joint Seven and TiVo announcement – 30 May 2007</ref> due to be launched in 2008. The group has also established a strategic 20 per cent shareholding in [[West Australian Newspapers]] Ltd. |
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In 2006, Seven Network and [[Kohlberg Kravis Roberts]] & Co (KKR)<ref>Damon Kitney and Brett Clegg, "Stokes, KKR in $3.5bn Seven deal", Australian Financial Review pp 1 and 14.</ref> created a new joint venture, Seven Media Group, a multi-faceted media company combining a presence in broadcast television, magazine and online applications. |
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[[Seven HD]] was officially announced on 15 September 2007, with the [[Seven Media Group]] announcing their intention to start a [[high-definition television|high definition]] multichannel, that was initially expected to launch in December 2007.<ref name="hdtv">{{cite news| title = Seven, Ten to offer HD-TV| publisher = The Australian| date = 15 September 2007| url = http://www.theaustralian.news.com.au/story/0,25197,22420209-30540,00.html| accessdate =15 September 2007| deadurl=yes}}{{Dead link|date=April 2010}}</ref> |
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By the end of 2007, the [[Seven Network]] had proven itself to become the most watched network in the country, dominating morning and prime time slots which continues today. <ref>{{cite news |
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| url=http://www.theaustralian.com.au/top50/2012/kerry-stokes/story-fnbtudzs-1226263968888 |
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|author= Top 50 2012 Businesses |
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|work = The Australian Online |
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| date=10 February 2012 |
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| location=Sydney |
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| title=Kerry Stokes}}</ref> |
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== Pacific Magazines == |
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{{Distinguish|Pacific Magazine}} |
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Pacific Magazine is a [[magazine]] publisher operating in [[Australia]] and [[New Zealand]], owned by [[Seven Media Group]]. It has it roots in the Southdown Press, the publishers of ''[[New Idea]]'' and long owned by the [[Keith Murdoch|Murdoch]] family. When [[News Limited]] acquired the [[Herald and Weekly Times]] in 1987, the Australasian and Argus titles (''[[Australasian Post]]'', ''Home Beautiful'', ''Your Garden'') were added. |
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[[Rupert Murdoch]] spun off his Australian magazine holdings in 1991 into a new company, Pacific Magazines and Printing (PMP). [[Seven Media Group]] acquired Pacific Magazines in 2002, leaving PMP as solely a printing business. Two years later, Seven bought Murdoch Magazines, a former corporate sibling in [[News Limited]], from Matt Handbury. |
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=== Publications === |
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* ''[[Better Homes and Gardens (magazine)|Better Homes and Gardens]]'', a monthly home/lifestyle magazine. |
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* ''Bride to Be'', a bridal magazine |
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* ''Diabetic Living'', a bi-monthly lifestyle magazine aimed at people suffering from [[diabetes]]. |
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* ''[[Family Circle]]'', a bi-annual women's magazine aimed at mothers. |
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* ''Famous'', a weekly celebrity tabloid magazine. |
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* ''[[Girlfriend (magazine)|Girlfriend]]'', a monthly magazine for teenage girls. |
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* ''Home Beautiful'', a monthly home decorating magazine. |
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* ''[[K-Zone]]'', a monthly children's magazine dealing with toys, gaming, anime, sport and entertainment. |
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* ''[[Marie Claire]]'', a monthly women's fashion magazine. |
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* ''[[Men's Health (magazine)|Men's Health]]'', a monthly men's lifestyle magazine. |
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* ''Monument'', a bi-monthly [[architecture]] and design magazine. |
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* ''[[New Idea]]'', a weekly women's magazine. |
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* ''Practical Parenting'', a monthly parenting magazine. |
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* ''[[That's Life! (Australian magazine)|That's Life!]]'', a weekly lifestyle magazine. |
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* ''[[Total Girl]]'', a monthly magazine for [[preteen]] girls. |
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* ''TV Hits'', a monthly entertainment magazine for teenagers. |
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* ''[[InStyle]]'', a monthly fashion, lifestyle and entertainment magazine. |
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* ''[[Who (magazine)|Who]]'', a weekly celebrity magazine, sister to the [[United States]] weekly ''[[People (magazine)|People]]''. |
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* ''[[Women's Health (magazine)|Women's Health]]'', a monthly women's lifestyle magazine. |
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* ''Your Garden'', a quarterly [[gardening]] magazine. |
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==References== |
==References== |
Revision as of 05:23, 23 March 2012
![]() | |
Company type | Public |
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ASX: SWM | |
Industry | Media |
Predecessor | West Australian Newspapers Holdings Limited |
Founded | 1992 |
Headquarters | Melbourne, Victoria, Australia |
Key people | Kerry Stokes, Chairman David Leckie, CEO[1] |
Products | Television Radio Newspapers Magazines Websites |
Owner | Seven Group Holdings 29.6% Kohlberg Kravis Roberts & Co. 12.6% |
Website | Seven West Media Ltd. |
Seven West Media Limited is an ASX-listed media empire (ASX: SWM) and is Australia’s largest diversified media business, formed by the sale of Seven Media Group to West Australian Newspapers Holdings Limited (WAN). It has a leading presence in broadcast television, radio, newspaper publishing, magazine publishing and online.
Seven Group Holdings Ltd (SGH), a company controlled by Australian Capital Equity (ACE), is Seven West Media’s largest shareholder with 33% of Seven West Media shares and $250m Seven West Media Convertible Preference Shares(CPS).
Seven West Media owns two of Australia’s iconic media assets: Australia’s largest commercial television network (by audience and advertising market share) Seven Network; and The West Australian, the leading metropolitan newspaper in Western Australia.[2]
It also owns the second largest publisher of magazines in Australia, Pacific Magazines, and 21 West Australian regional newspapers, nine regional radio licences, a specialist publishing business and WAN’s digital division.
Seven West Media is also creating a significant presence in online and new communications technologies, such as through its 50% interest in Yahoo!7, one of Australia and New Zealand’s leading online platforms, with global and local content across online, mobile and IPTV.[3] 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 Kohlberg Kravis Roberts & Co., and announced the new company would be known as "Seven West Media".[4]
On 11 April 2011, Seven West Media was created through the acquisition of Seven Media Group by West Australian Newspapers Holdings Limited (WAN) as approved by WAN shareholders. [5]
Assets
- Seven Network
- The West Australian
- Pacific Magazines
- Yahoo!7 (50% stake)
- Community Newspaper Group
- Quokka
- WA Regional Newspapers
- The West
- Wjobs
- bloo
- Sky News Australia (33% stake)[6]
- 67% of Hybrid Television Services exclusive licensee of TiVo in Australia and NZ from 2008 [1]
See also the newspaper and radio interests of West Australian Newspapers Holdings Limited.
West Australian Newspapers Holding Ltd
In addition to The West, West Australian Newspapers Holdings Limited owns a number of other media outlets.[7]
- 23 regional newspapers and magazines
- 4 business directories across the State
- the Streetsmart and Travellers Atlas street directories
- the quarterly Vita and Habitat & Lifestyle magazines
- The Quokka, a classified-advertising weekly[8]
- Two commercial printing plants
- a regional radio network in the State's north
In September 2007, WAN sold a 50% interest in the Hoyts Cinemas Group.[9]
Key People
Chairman of Seven West Media is Kerry Stokes AC, who is also chairman of Seven Group Holdings, David Leckie is Group Chief Executive Officer of Seven West Media, with the others in the executive team being Tim Worner, CEO of Seven Network Television, Chris Wharton, Chief Executive Officer, WAN/WA Media; Nick Chan, CEO of Pacific Magazines; Kurt Burnette, Chief Sales and Digital Officer; Peter Lewis, Chief Financial Officer; Rohan Lund, CEO of Yahoo7!; Bruce McWilliam, Commercial Director; and Peter Bryant, Chief Financial Officer WAN.[10]
History
The West Australian was owned by the publicly-listed company West Australian Newspapers Ltd from the 1920s. In 1969, the Melbourne based The Herald and Weekly Times Ltd 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 only survived 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] 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. [13] [14] [15]
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.
Since 2007, the Seven Network has been the highest rating television network in Australia, ahead of the Nine Network, Network Ten, ABC and SBS.[16] In 2011 the Seven network won all 40 out of 40 weeks of the ratings season for total viewers.[17] Seven is the first to do this since the introduction of the OZtam ratings system in 2001.[18] It is currently the second largest network in the country in terms of population reach.[19]
History of Seven Media Group
The Seven Network began as a group of independent stations in Sydney, Melbourne, Brisbane, Adelaide and Perth.[20] 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.[20] It launched on 4 November 1956, soon joined on 2 December by Amalgamated Television Services ATN-7 in Sydney.[21]
TVW-7 Perth began broadcasting almost two years later, on 16 October 1959, as the city's first commercial station. It was licensed to TVW Limited, a subsidiary of West Australian Newspapers, publisher of The West Australian.[20] BTQ-7 followed on 1 November, signing on as Brisbane's second commercial television station.[20][21]
ADS-7 in Adelaide launched on 24 Oct 1959 as the final capital city VHF7 station. The station later swapped frequencies with SAS-10, however, with the latter becoming SAS-7[20]
Perth-based businessman Robert Holmes à Court, through his business the Bell Group, bought TVW-7 from its original owners, West Australian Newspapers in 1982.[21] The Herald and Weekly Times, owner of HSV-7 and ADS-7, was sold to Rupert Murdoch in December 1986.[21] Murdoch's company, News Limited, sold off HSV to Fairfax soon afterwards, for $320 million.[21] 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).[22]
In 1987 forced Fairfax sold off its stations to Qintex Ltd., owned by businessman Christopher Skase.[22] Qintex had previously bought, and subsequently sold off, stations in Brisbane and regional Queensland before taking control of the network.[21] The next year, another new logo was introduced along with evening soap Home and Away and a relaunched Seven National News, now known as Seven News. The network expanded in 1988 when Skase bought out TVW for $130 million.[22]
A failed $1.5 billion bid for MGM Studios in the same year sent Qintex into receivership.[21] Christopher Skase fled Australia in 1990 in order to escape extradition.[22] The business' assets were bundled together by receivers and made into a new company, the Seven Network Limited, in 1991.[21]
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%.[23] In 1995 Stokes acquired 19.9% of the public company and was elected Chairman.[24] Shortly after it aquired 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.[25]
Now 68% owned by Kerry Stokes, Seven Network is a network of commercial free-to-air television stations in Sydney, Melbourne, Brisbane and Adelaide, as well as regional Queensland & Perth.[26] 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 now accounts for more than 20 per cent of all magazines sold in Australia.
The year 2000 saw Seven as the host broadcaster for Sydney Olympics, with the relaunch of the Network with an updated logo and a new promotional campaign. In 2003, Stokes appointed David Leckie to 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.[27]
This venture is now Australia's most popular internet portal 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,[28] due to be launched in 2008. The group has also established a strategic 20 per cent shareholding in West Australian Newspapers Ltd.
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.
Seven HD was officially announced on 15 September 2007, with the Seven Media Group announcing their intention to start a high definition multichannel, that was initially expected to launch in December 2007.[30]
By the end of 2007, the Seven Network had proven itself to become the most watched network in the country, dominating morning and prime time slots which continues today. [31]
Pacific Magazines
Pacific Magazine is a magazine publisher operating in Australia and New Zealand, owned by Seven Media Group. It has it roots in the Southdown Press, the publishers of New Idea and long owned by the Murdoch family. When News Limited acquired the Herald and Weekly Times in 1987, the Australasian and Argus titles (Australasian Post, Home Beautiful, Your Garden) were added.
Rupert Murdoch spun off his Australian magazine holdings in 1991 into a new company, Pacific Magazines and Printing (PMP). Seven Media Group acquired Pacific Magazines in 2002, leaving PMP as solely a printing business. Two years later, Seven bought Murdoch Magazines, a former corporate sibling in News Limited, from Matt Handbury.
Publications
- Better Homes and Gardens, a monthly home/lifestyle magazine.
- Bride to Be, a bridal magazine
- Diabetic Living, a bi-monthly lifestyle magazine aimed at people suffering from diabetes.
- Family Circle, a bi-annual women's magazine aimed at mothers.
- Famous, a weekly celebrity tabloid magazine.
- Girlfriend, a monthly magazine for teenage girls.
- Home Beautiful, a monthly home decorating magazine.
- K-Zone, a monthly children's magazine dealing with toys, gaming, anime, sport and entertainment.
- Marie Claire, a monthly women's fashion magazine.
- Men's Health, a monthly men's lifestyle magazine.
- Monument, a bi-monthly architecture and design magazine.
- New Idea, a weekly women's magazine.
- Practical Parenting, a monthly parenting magazine.
- That's Life!, a weekly lifestyle magazine.
- Total Girl, a monthly magazine for preteen girls.
- TV Hits, a monthly entertainment magazine for teenagers.
- InStyle, a monthly fashion, lifestyle and entertainment magazine.
- Who, a weekly celebrity magazine, sister to the United States weekly People.
- Women's Health, a monthly women's lifestyle magazine.
- Your Garden, a quarterly gardening magazine.
References
- ^ Seven West Media Limited (1 May 2011). "Prospectus" (PDF). Seven West Media Limited. Retrieved 1 May 2011.
- ^ Top 50 2012 Businesses (10 February 2012). "Kerry Stokes". The Australian Online. Sydney.
{{cite news}}
:|author=
has generic name (help)CS1 maint: numeric names: authors list (link) - ^ "About Seven West Media" (Press release). Seven West Media. 2011. Retrieved 01 May 2011.
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(help) - ^ http://au.news.yahoo.com/thewest/a/-/newshome/8874283/wan-to-buy-sevens-media-assets-for-4-1b/ WAN to buy Seven's media assets for 4.1 billion
- ^ http://www.marketwatch.com/story/west-australian-newspapers-to-buy-seven-media-2011-02-20
- ^ Internet Industry Association Information
- ^ About Us The West official site
- ^ About "The Quokka"
- ^ PBL and WAN sell Hoyts for $440m
- ^ http://www.sevenwestmedia.com.au/about-us/board-of-directors]
- ^ Bond, Bell and Holmes a Court:Bell at Ketupa.net media industry reference
- ^ 175 years of The West Australian
- ^ Nick Perpitch Brett McCarthy goes from Sunday to weekdays at The West Australian The Australian 16 March 2009
- ^ How The West Australian was won by Kerry Stokes The Australian, 4 December 2008
- ^ Chris Wharton – Chief Executive Officer Corporate information on official website
- ^ Enker, Debi (13 December 2007). "The stars of 2007". The Age Online. Melbourne.
- ^ "Seven Dominates in 2011" (PDF). Seven West Media. Retrieved 8 March 2012.
- ^ http://www.tvtonight.com.au/2011/11/seven-dominates-2011-ratings.html
- ^ "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.
- ^ a b c d e "History of AustralianTelevision:The Fifties". Televisionau. Retrieved 23 March 2012. Cite error: The named reference "Televisionau-50's" was defined multiple times with different content (see the help page).
- ^ a b c d e f g h Bruce Arnold. "Seven: landmarks". Caslon Analytics. Retrieved 7 August 2007.
- ^ a b c d Brooklyn Ross-Hulands. "Seven Network 1980s". AusTVHistory. Retrieved 27 June 2007.[dead link]
- ^ "Investigation Into Control" (PDF). Australian Broadcasting Authority. Retrieved April 1996.
{{cite web}}
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(help) - ^ Clive Mathieson. "Stokes vs Packer: A media mogul death math". The Punch. Retrieved 10 July 2009.
- ^ Brooklyn Ross-Hulands. "Sunshine Television History". AusTVHistory. Retrieved 27 June 2007.[dead link]
- ^ 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.
- ^ "Yahoo!7 Redefines Australian Media Landscape" (PDF). Seven Media Group. 30 January 2006. Retrieved 21 February 2008.
- ^ Joint Seven and TiVo announcement – 30 May 2007
- ^ Damon Kitney and Brett Clegg, "Stokes, KKR in $3.5bn Seven deal", Australian Financial Review pp 1 and 14.
- ^ "Seven, Ten to offer HD-TV". The Australian. 15 September 2007. Retrieved 15 September 2007.
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