Seven delivers blow to Prime Media board amid further warnings of ad revenue declines

November 10, 2015 6:39

Seven Group Holdings has used its major shareholding in regional TV network Prime Media to help deliver a “strike” against its management remuneration report.

The move comes amid growing tensions between the affiliate stations with Prime lobbying hard for media reform and Seven actively opposing any change in the legislative framework government the broadcast media.

It also came on a day when shareholders were again warned of a slump in advertising revenues, which were down 6.9 per cent in July and August and down 7.9 per cent in September.

Hartigan: the next report will meet the expectations of shareholders

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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