Fresh allegations plague the Kerry Stokes-controlled media organisation as it tries to turn the page.
expose about Seven’s toxic culture arrived in time to give a lurid backdrop to the company’s dreadful annual results.One thing that jumps out from the ABC’s investigation is the near-total erasure of the company’s leadership. There was zero mention of proprietorStill, they were all over Seven’s annual results, which showed the financial health of the company matches the deadened morale among the rank and file. Debt is up, profits down, and its program of cuts is to be expanded.
There was also a line about the costs associated with the old guard’s exits. On top of his final year remuneration of $1,049,244, Warburton walked away with a termination payment of $265,221. He remains the eighth-largest shareholder of the company, with more than 23 million shares.Then there’s text and property tycoon McWilliam, whose four-decade career as a fixer to media CEOs in the Anglosphere ended swiftly in April.
Seven took issue over a so-called “spillage” issue, whereby some of its Sydney viewers were being counted as watching in Wollongong. This being the ratings-obsessed world of TV and advertising, the miscount had commercial implications. The multimillion-dollar payout meant Seven didn’t escalate things further.But the company is now in its Howard-era.
“The reality is that we want people to grow over time and learn. What might be an indiscretion at a moment in time – that doesn’t mean that it’s a behaviour that should determine a career.” Who wouldn’t want a second chance. The pity of the pattern established at Seven and elsewhere, is all the young women who had careers cut short – long before powerful men figured them worthy of one.is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent.
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