Seven West Media Limited (ASX:SWM) says the fall in its share price is due to the turmoil on equity markets.
Chairman Kerry Stokes believes investors are now revaluing the group after a debt refinancing.
The group expects earnings before interest and tax for the six months to December to be more than $300 million.
Expenditure in the second half is expected to be higher than the first due to a $425 million cash cost for the broadcasting rights for the Australian Football League until 2016.
Seven West Media reported a net profit of $115 million for its first financial year results.
