Seven West posts $109.3m loss
Media giant Seven West has reported a loss of $109.3m.
A company restructure, a fall in value in magazine publishing arm PacMags and investment in internet joint-venture Yahoo!7 are mostly to blame for a difficult set of financial results for the six month period to December 2012.
The owner of TV station Seven and the West Australian newspaper took impairment charges of $255.4m across the group, writing down its magazine assets – which include Men’s Health, Famous and Marie Claire – by $195.2m.
