So…A little bit of silver lining I guess?
Once this crisis is over it would be good to see Seven get back to producing some quality programs on TV instead of the cheap stuff we’ve been getting that’s doing them no good both ratings-wise and financially.
Makes sense; selling now would mean a lower price compared to normal times.
Things are getting grim at seven. Dire days indeed. You have to feel for the staff that they’re employer is in such a position because of poor management decisions. Something will have to give eventually.
No, it’s not looking good.
Hopefully they can pull something together.
Seven CEO orders staff pay cuts
He and his executives had better be contributing their fair share to the pay cuts.
Their CEOs should take no pay at all for at least half a year. They have enough to support themselves and their salary is very high. If they want to support their company they need to cut their own to start.
Every network has made cuts.
Advertisers are deserting television due to Coronavirus.
Nine aren’t paying bonuses this year.
Ten’s doing a complete shutdown for four days.
Obviously seven’s bottom line was already suffering but businesses around the world are doing the same or similar things.
Keeping your job at this point in time is a blessing.
Yes but my point is that it is more dire for them given their debt, poor programming and worthless share price. If any of the three that would be operating insolvent it would be Seven when compared to the other two.
I wouldn’t be surprised if others followed suit.
I don’t think poor management had any effect on a pandemic gripping the world. Every commercial organisation at the moment is struggling.
True although Seven are probably worse off than others considering they were already in trouble before the pandemic.
It’s the cumulative effect. Yes all are impacted but some more so due to their previous position. The overall comment was seven are in a more perilous position than the others.
You’d think if they didn’t pay for those abysmally expensive sports deals (those sporting bodies should be called out for what they are, financially greedy and would rather money than to protect their own sports’ future, but that’s another story) and had better programmers and people working on digital platforms they wouldn’t be stuck in the sinkhole they’re in these days. Those responsible should’ve left long time ago yet they’re still here. Not hearing any reports of them taking pay cuts either so any idea that they want to ‘reinvigorate’ and ‘revive’ the company is completely rubbish.
Now with the coronavirus pandemic happening their woes are just going to get worse until it rides itself out and they get new management.
Fair enough, but I guarantee you 9 will follow suit… so will that be poor management and a perilous position?
9 have already gone to market with cost cutting being brought forward and have less debt than 7 so they are in a somewhat better position. I think you’re completely mistaking my initial point so I’ll leave it here.
News is focused on saving their newspapers and Foxtel, so they have no interest in buying Seven.
Well that means it’s a done deal. Seven will
Become seven/fox before you know it… 
Worst case scenario realised
Meanwhile, SWM has embarked on a new partnership with CarsGuide, owned by Cox Automotive. CarsGuide was founded by News Corp more than a decade ago before it was sold to Cox Automotive in August 2016.