Kerry Stokes: “Seven’s Not For Sale”, But Concedes Tech Giants “Vacuuming Up” Ad Dollars
Seven West Media chairman Kerry Stokes has again dismissed media speculation that he wants to sell his television interests.
Ever since Stokes replaced CEO Tim Worner with newly minted boss James Warburton last August, rumours have swirled that one of Warburton’s chief tasks would be to fatten Seven for sale (most likely to News Corp).
Rumours not helped by Warburton’s decision to cull shows (Sunday Night the first to be axed), streamline Seven’s management and sell Pac Mags to rival Bauer. Adding to that, there’s this week’s news that Seven – and rival Nine – are both predicting softening ad markets over the coming 12 months.
In Warburon’s previous role – as CEO of outdoor media player APN – he did exactly that, prime the company for its eventual sale to rival JCDecaux.
“I do APN Outdoor and everyone thinks I’m selling [Seven],” Warbuton was quoted as saying in yesterday’s Sydney Morning Herald.
In an interview with B&T post last month’s Upfronts, Warburton again scotched rumours his job was to find a buyer for the network. “I am not fattening [Seven] up to sell it. I don’t know why people assume that,” he said.
Speaking at Seven’s AGM yesterday, Stokes reiterated that if he’d wanted to sell Seven “we could’ve sold a long time ago”.
Stokes added that he wanted to now give Warburton “a chance to grow the business”.
However, Stokes agreed that free to air television wasn’t without substantial threats, namely from the likes of Facebook and Google who continued to “vacuum up” the ad dollars.
“My major concern is [digital platforms should] just pay tax. They take enough money out and it’s net cash. The fix is [to] find a way from stopping the big platforms from taking the money away,” Stokes said, his comments reported on Nine’s The Australian Financial Review.
“At the end of the day, they’re like a vacuum cleaner; they come to Australia, vacuum up all the money and go away again. We get what’s left.
“I think there’s a desire to level the playing field … the problem we have that no one addresses is that it’s all part of the Australia-America trade agreement.
“So all these studios and Facebook they fall under a special section of the trade agreement that [means] we can’t do any special tax on them.
“When you put them all together they just take the money away and it’s difficult for the government to put that into place,” Stokes said.
Meanwhile, Warbuton used yesterday’s AGM to warn shareholders that Seven’s ad woes would most likely continue through to mid-2020.
Ideally, things would improve with the network’s coverage of the Tokyo Olympics starting in July.
Seven grew its share of the TV advertising to 39 per cent during the September quarter and the broadcaster now expects underlying earnings before interest and tax to fall to the lower end of its previous expected range of between $190 million and $200 million.
“We are now forecasting the metropolitan television market to be down mid-single digits for the financial year,” Warbuton added.
Latest News
Tuesday TV Wrap: Masked Singer Already On The Up Following Okayish Debut
While The Masked Singer achieved an okayish debut Monday night, its second show was the real winner for 10, with 818,000 metro viewers tuning in, according to OzTAM data. And, a further 942,000 watched the mask reveal. The success of The Masked Singer saw 10 achieve a rare primary channel share win with 16.4 per […]
Westpac Group Partners With Verizon Media DSP For Omnichannel Solution
Westpac Group today announced it has partnered with Verizon Media’s Omnichannel DSP across its entire brand portfolio including Westpac Bank, St George Bank, Bank of Melbourne and Bank of South Australia. The new partnership gives Westpac Group access to Verizon Media’s end-to-end strategic marketing and planning capabilities including: first-party data based audience insights; full-service omnichannel […]
Mark Lollback Joins The Foodbank Australia Board
Foodbank Australia has appointed GroupM CEO, Mark Lollback, as its latest board member. Lollback has more than 20 years of global blue-chip marketing experience at brands including McDonald’s, Pepsi, Lipton and ANZ Bank. He assumed the role of GroupM Australia & New Zealand CEO in April 2016 and under his leadership GroupM won ‘Employer of […]
Now That’s Whopper Protection! You Can Now Get Your Burger King Order Printed Directly Onto A Face Mask
In refreshing news that even Burger King can get a laugh out of a global pandemic comes the burger chain’s latest COVID-19-inspired stunt that allows customers to have their order printed on a face mask so they don’t even need to speak to a staff member behind the counter or through the drive-thru when ordering. […]
Adobe Analytics Adds Mobile App
Adobe is introducing a mobile app for Adobe Analytics, to provide a new way for users to experience the product and gather insights. Commenting on the new product, Adobe’s director of product management John Bates said the new solution offers a way for businesses to provide accurate data-driven insights on the go. “There is a […]
Nova Cuts 70 Employees Amid Pandemic
Nova Entertainment has cut around 70 roles within the radio business due to an increasingly poor advertising market. As first reported on Radio Today, Nova staff were informed of an internal review on Tuesday via a virtual meeting, with around 70 employees to go amid a cost-cutting operation. Nova chief executive Cathy O’Connor (pictured) said the […]
Introducing The Women Leading Tech Product Finalists
Did you know there’s less than one month to go until our very first Women Leading Tech awards? To celebrate, today we’re featuring all of the talented finalists who help turn ideas into viable solutions. Introducing out Women Leading Tech product finalists! transferwise head of anz product Christine sou When Christine Sou first joined TransferWise […]
Barbra Streisand Lends Voice To Campaign Calling On The LGBTQI+ To Oust Trump
Music and acting royalty, none other than the legendary Barbra Streisand, has loaned her face and voice to a new campaign urging America’s LGBTQI+ community to vote Trump out of office given his appalling record on gay rights. The ad, called “Vote proud”, features Streisand’s 1979 classic duet with Donna Summer No More Tears (Enough Is Enough) […]
“The Value Needs To Be There For Everyone”: Osher Günsberg On The Three-Way Exchange Of TV Show Sponorship
“We’ve come a long way since the Garnier Green Room on Australian Idol days,” says The Bachelor host (and host of The Bachelorette, Bachelor in Paradise, Masked Singer, and the narrator of Bondi Rescue) Osher Günsberg. Working in the TV industry since 1999, Günsberg told B&T the changes he’s seen in show integrations have been “fascinating”. […]
Sleep Apnoea Tackled In Witty Work From ResApp Health & Isobar
ResApp Health Limited, a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease, has announces launched its new national marketing campaign, ‘The Sleepy Town With a Snoring Problem’, to raise awareness for the importance of early screening for sleep apnoea and the launch of their new app ‘SleepCheck’, which […]
Man of Many Appoints Tim Fernandes As Sales & Partnerships Manager
Man of Many has appointed former Australian Men’s Fitness Magazine Commercial Director, Tim Fernandes as Sales & Partnerships Manager. With six years of experience leading the advertising, sales and partnerships at Men’s Fitness, Fernandes is no stranger to collaborating with premium brands, having worked with the likes of Under Armour, Harley Davidson, Coopers, JBL, Gillette […]
“Simply Disingenuous!” Coles Challenged Over Its Decision To Phase Out Its Printed Catalogue
The Real Media Collective (TRMC), the Australian industry association representing the interests of companies in the paper, print, publishing/media and related distribution sectors across Australia, has challenged Coles Supermarkets for using the environment as a reason in its announcement today outlining its plans to cease sending catalogues to Australian homes from September. In the announcement, […]
Major Stars Including Kerri-Anne Kennerley & Tim Bailey To Go As 10 Announces Major Restructure
Network 10 is set to undergo a massive restructure, leaving a number of high-profile journalists out of a job, including Kerri-Anne Kennerley, Natarsha Belling and Tim Bailey, B&T understands. As first reported on The Sydney Morning Herald, the restructure was announced to staff on Tuesday. As part of the restructuring, the presentation of the weekday […]
The Alcohol & Drug Foundation Team With Dee Madigan’s Campaign Edge To Tackle CV-19 Drinking
Alcohol & Drug Foundation (ADF) has launched a new national health campaign with Campaign Edge aiming to tackle COVID-19 drinking. Funded by the Australian Government, Break the Habit reveals that it takes only around 66 days to form a habit – roughly the same amount of time many Australians spent in lockdown. It’s a fact most Aussies are […]
How To Get Out Of A Cashflow Crisis
Paul Roach (pictured below) is a business strategist and coach who has worked with hundreds of SMEs across many industries to supercharge their cashflow. Roach is also author of the book Smarter Business Stronger Cashflow. In this guest post, Roach gives his top tips when the cash taps start to be turned off… Cashflow is like […]
BWM Dentsu’s Haystac Launches As The Social Relations Agency
Haystac relaunches as a "social relations agency" which, it's quick to stress, doesn't include a match-making component.
Another Win For The Hindus As Ganesh Mini Skirt Latest To Face The Chop
If B&T has become anything, it's now your one-stop-show for the latest angry Hindu news.
Nielsen Data: ABC Tops Digital News Rankings
'Wood Whittlers Weekly' and 'The Pigeon Fancier Gazette' shock omissions from latest Nielsen news site rankings.
Victorian Government Rolls Out Sobering COVID-19 Campaign Via M&C Saatchi Melbourne
It's yet another sobering CV-19 ad, amid reports the Grim Reaper's publicist is starting to field some genuine interest.
Dating App Thanks Masturbators For Resisting Lockdown Sex In Colourful New Campaign
Here at B&T we strongly endorse the notion that chronic masturbation sends you blind. Hence our white stick & Labrador.
Switch Digital Nabs Simonds Homes Account
Switch Digital snares Simonds Homes account which, B&T can confirm, is no way affiliated with Mr Red Symons.
Kraft Heinz Appoints REBORN As Creative Agency To Launch New Heinz Plant Proteinz Brand
B&T is definitely increasing our veggie intake. Not because we love animals, it's because we hate plants.
Monday TV Wrap: Masked Singer Launch No Match For Ninja Warrior Finale
Ninja wins, Masked Singer gets silver, while Farmer Wants A Wife settles for bronze amid claims it had an asthma attack.
Stuff You Should Know Podcast Remains As Most Listened To Show
B&T's podcast presumably hovering just outside the top 100 as latest rankings revealed.
Out Of Home Industry Half Year Revenue Dives 35.4%
Out of home revenue dives 35.4%! Although its inward pike with half-twist did score a 9.5 from the judges.
“Minimalistic Fruit Design!” Apple Set To Sue Tiny Rival Over Its Fruity Logo
B&T would've labelled this a "David & Goliath" battle save for the fact that David has a snowflake's chance in Hades.
UnLtd Launches ‘Lockdown Survival Guide For Adland’
It's your lockdown survial guide that doesn't include tips on fighting the zombie apocalypse or, worse, SPAM recipes.
Media Agencies To Pilot RadioMATRIX, A World-First Virtual Workspace
Here's an exciting virtual-radio-media buying initiative. Made even more exciting if B&T actually understood it.
One Daydream Expands Into Alcohol Category
Sydney and Melbourne based PR, Talent & Digital agency One Daydream has extended its client portfolio to include alcohol. The category expansion comes as One Daydream joins the agency roster of Pernod Ricard, working on a project basis to manage strategic PR and digital campaigns. The global drinks group boasts one of the most comprehensive and prestigious […]
Growth Tank Launches First Virtual Youth Marketing Australia Conference For Free
Fear feeling a bit old at a youth marketing conference? Well, watch as the years peel away at this virtual offering.
