Seven slides to massive loss

Company News

Seven West Media (ASX:SWM) has slid to a $1.9 billion loss for the full year to June 30, on the back of a number of major write-downs.
 
The Kerry Stokes owned television giant reported a $149 million profit last year. 
 
The company has warned of another difficult year ahead and says it’s launching a strategic review into its operations.
 
Newspaper revenue fell 10 per cent and magazine earnings remained virtually unchanged at $20 million. 
 
Seven West Media will pay a final dividend of 4 cents fully franked. 

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