Separate entrances, had lunch at different cafes?
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Was more just curious. At one stage there mustâve been 300-500 (give or take) staff (full time to casual and contracts) in and out of the place on a fortnightly basis. As MBB says, thereâs so many floors.
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Seven West have reportedly approached Nine Entertainment about the possibility of selling their transmission joint venture company TX Australia, according to Max Mason in the AFR. Last week Seven indicated they were reviewing all of their assets.
And:
with Disney and Comcast also believed to have had discussions. Seven Studios is estimated to be worth $400 million, according to the SMH.
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Why would they want to sell a studio they own that generates $50m a year and helps them diversify AWAY from broadcast TV (dying) to content (thriving) I donât get it
They want to sell the one part of the business that is more future period to help prop up the part of the business that is declining?
I am really confused. Are they so desperate for cash?
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Heavily in debt and no other way to get cash then selling off parts of the business.
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@Aurora band aid solution
The problem is media companies around the world and transforming into content business diversifying away from broadcast as its declining so fast
If they sell their studio arm, they will get a fast shot of cash, and then have all their eggs in one fast declining business: broadcast TV
They fucked up presto. They didnât get prime. They have no radio. No streaming. And now they wanna sell their content studio.
I canât see the long term
Plan here
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Sell off everything to bare bones. Make the business no longer viable and then a company like News Corp come in and buy it out on the cheap. The ACCC will be forced to wave it through as Seven will say if we do not get bought out weâll go bankrupt etc etc.
Pure speculation on my part but really cannot see them achieving very much at the moment given their current structure.
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SWM should sell its share in TX Australia but keep the studios business.
Thereâs one obvious way to get cash - do whatâs clearly inevitable and find someone to buy Seven instead of gutting it like a fish bit-by-bit
What would you suggest?
Get into streaming
Form partnerships with Foxtel
Expand the seven studios and produce and sell more content
Buy some red hot formats from Isreal Italy Spain japan that are not too expensive
Take risks in programming
Diversify away from broadcast TV
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All good points except for that News Corp part. We need a reputable company to take over Seven, not that garbage News Corp.
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Theyâll probably get about $17 million for their share of TX Australia, based on the valuation a couple of years ago. On its own that probably isnât enough cash, I guess.
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But the value would have to be lower now that it only has 2 main customers after they drove 10 out of the business. Another short sighted move that was driven by Seven according to report at the time.
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So if we are to expect the worst to come:
Only 2 metro networks remain.
Kerry Stokes is non-Executive Chairman of Seven West and the Executive Chairman of its major shareholder Seven Group. He has all the power there.
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Could someone like WIN or SCA buy Seven?
Realistically I think Seven will probably survive in some way or another, although the network wonât be what it once was.
Who wouldâve thought back in 2012 that Seven would now be struggling financially while Nine & Ten seem to be doing OK?!
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NBC|7 partnership might happen given the state of SWM. NBC Uâs Peacock could launch as a competitor to Stan and rival Nine Entertainment.