Revenue for Seven West Media’s publishing division fell for the half year amid “challenging” advertising conditions.
The company reported a decline of 6.2% in revenue to $151.6 million for The West Australian newspapers and its magazine division Pacific.
The West’s revenue fell by 1.4% to $94.3 million. Advertising revenue was $52.5 million, while circulation revenue was $27.7 million.
Meanwhile, Pacific fell by 13.3% in revenue to $57.3 million. Advertising revenue was $14.8 million, while circulation revenue was $40.8 million.
Seven is hoping to sell Pacific to Bauer for $40 million. Howeve,r the sale is still pending approval from the Australian Competition and Consumer Commission.
Digital subscriptions for The West, which was launched in June last year, are ahead of schedule, according to Seven, with plans to roll it out regionally.
“We are focusing on the performance of WAN,” Warburton told analysts at a briefing.
“Certainly, our CEO over there, Maryna Fewster, and our new editor, Anthony De Ceglie, are doing a fantastic job.”
Warburton says they are working the “assets as hard as they possibly can and digitising and transforming those assets”.
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