V8 Supercars in the dark over Warburton link

V8 Supercars in the dark over Warburton link

 

B&T Magazine
Posted by B&T Magazine

V8 Supercars has said it does not know if there is substance to media reports stating former Network Ten chief executive James Warburton is about to take over as its chief executive.

A spokesperson for V8 Supercars told B&T that today’s report in the Australian Financial Review claiming that its majority owner Archer Capital is hunting for new management and Warburton is at the top of the list was “news to us”.

“We are not going to comment on what at the moment is just speculation, we can’t speak on behalf of major shareholder Archer on what they are planning to do,” said the spokesperson.

If the deal were to be done, Warburton would take charge from current CEO David Malone.

Network Ten ousted embattled Warburton after just over a year leading the network and replaced him with former global GPY&R boss Hamish McLennan on a $2m-a-year contract.

The network fought for nearly a year to get Warburton freed from his contract at Seven, where he was seen as a rising star of the TV industry, but last year saw the main channel struggle in the ratings race, losing touch with its free-to-air rivals.