Seven West Media

Television Seven Network
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Seven West Media refinances debt facilities

Seven West Media (ASX: SWM) today announced that it has refinanced its syndicated debt facility. The new facility delivers lower cost of funding, more flexible terms and maturity extended to October 2024.

The debt refinancing marks an important milestone in the company’s transformation and reflects the significant achievements at SWM over the past 24 months, including the reduction in net debt by 57% to $240 million and an improvement in the balance sheet position, with the leverage ratio below 1x at the end of the 2021 financial year.

The new facility funding costs are at 2.25% above BBSY, which is half the funding costs under the previous facility. The new facility is also revolving, which will require SWM to hold less cash on balance sheet, further reducing interest costs.

The previous facility’s COVID-era restrictions have also been eased, giving SWM greater flexibility to pursue its strategy. Financial covenants have reverted to those typical for a debt facility to a listed media company and provide ample headroom based on SWM’s most recent financial results. Previous restrictions on capital management have also been eased.

SWM is being advised by Grant Samuel as financial adviser and Ashurst as legal counsel.

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maby 7 should take note of the same logo thats used in the us lol

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White Ribbon Day 2021

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Our homes and communities should be safe spaces. Unfortunately for too many women and children, this is not the case.

Men’s violence against women is an ongoing epidemic in Australia and, sadly, the COVID pandemic has made the situation worse. Lockdowns and social distancing have created a spike in violence and reduced the ability of victims to seek help.

Seven West Media is proud to announce that we are the official media partner of White Ribbon Day 2021, to raise awareness of this issue that affects so many Australians.

Did you know that family and intimate partner violence is the leading cause of serious injury, disability and death for women in Australia, and that on average, one woman is killed every week as a result of intimate partner violence?

In order to stop violence against women, we need to recognise that it’s an issue we all need to address. The victims are our friends, colleagues, mums, wives, sisters and daughters – across all ages and backgrounds.

This year, White Ribbon Day is asking Australia, ‘How can men make change?’, with a focus on the action that men can take to end male violence against women. I encourage all men to reflect on their attitudes towards violence against women and how they can help be part of the solution.

White Ribbon Day is close to my heart and Seven is supporting the cause through editorial coverage, free advertising and internal staff events.

In addition to reports from 7NEWS , Pride of Australia’s National Courage Medal recipient, Rosie Batty, will be speaking with Sunrise on Friday 19 November about the importance of the event.Rosie is a leader in the crusade against domestic violence and her strength and selfless efforts are an inspiration to many people. We’re also thrilled to welcome White Ribbon Australia Executive Director, Brad Chilcott, to The Morning Show on Friday 19 November to talk about the important cause.

If you’d like to contribute to the White Ribbon campaign and create change by raising awareness and building respectful relationships, here are some ways:

  • Plan and host a White Ribbon Day event to raise vital funds to help stop men’s violence against women.
  • Stand in solidarity with women when they’re calling for change. Visit the resource page at whiteribbon.org.au and learn more about your role in eliminating all forms of men’s violence and abuse.
  • Donate directly to support prevention initiatives.

Ending men’s violence against women can sometimes feel like an impossible goal, but it’s not. We can do it together.

James Warburton, Managing Director and Chief Executive Officer, Seven West Media

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Was there any discussion of Andrew O’Keefe the longtime Seven presenter, Sunrise cohost and White Ribbon Ambassador for close to 20 years or did they pretend he doesn’t exist?

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He doesn’t work for Seven anymore so not their problem really. Besides, not as if Seven had any control over his alleged disgraceful actions.

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noticed Prime Media Website now goes to Page not found and PRT is (Formally Prime Media Group)

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I just corrected it, it was meant to day assets owned by PRT Company (as they changed after selling the assets of Prime Television (Holdings) Pty Ltd, Seven Affiliate Sales Pty Ltd and all their subsidiaries to Seven)

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Meanwhile, PRIME7’s main website is running like the acquisition never happened.

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You can’t just wave a magic wand and expect Seven to suddenly incorporate regional news into the 7News website. It would take time.

The websites will probably go untouched until Prime7/GWN7 News is properly incorporated into the 7News portfolio.

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Guess that confirms a rebrand of GWN7 to Prime7!!! Prime7 is here to stay! :wink:

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Meanwhile, on the other side…

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I wasn’t sure where to put this, but what the hell is going on over there? In the media over here hasn’t been this pathetic (and that’s saying something!)

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Ridiculous, even by The West’s standards under De Ceglie.

SevenWest clearly not happy with the poll that they commissioned last week indicating that the majority (71%) didn’t agree with their editorial stance on the border deferral.

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What’s the story behind this guy?

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This really seems like something like Sky News or Fox News would do be honest… The West really has gotten downhill within the past few years :confused:

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Ex Daily Telegraph deputy editor - as soon as he started with The West has aggressively taken it a more tabloid path to the extent people so often mistake it for a Murdoch rag.

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