Seven West swings to FY loss

Media group writes off almost $310m on magazine mastheads and investment in Yahoo!7

Seven West Media (SWM) has swung to a full-year loss of $69.7 million after taking impairments of almost $310 million on its magazine mastheads and Yahoo7!.  

The group sank to a net loss of $69.7 million for the year to June from a net profit of $226 million in the prior year, double what analysts were forecasting at $34.3 million.

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