Seven West Media posts grim financials following SCA merger

Seven West Media’s newest financial results It is its first release since its merger with Southern Cross Austereo (SCA) in January – before CEO Jeff Howard abruptly left the company.

SCA announced that net profit after tax for Seven West fell by 42.3%, while EBITDA (earnings before interest, tax, depreciation and amortization) fell by 28.7%, noting that a number of financial accounting methodologies had to be changed to account for the acquisition.

SCA itself saw net profit after tax from continuing operations rise 191%, with earnings rising 17.5%.