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    SWM   AU000000SWM4

SEVEN WEST MEDIA LIMITED

(SWM)
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End-of-day quote. End-of-day quote Australian Stock Exchange - 04/16
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Australian parliament passes media reforms after last-ditch changes

02/24/2021 | 06:33pm EDT

* Australian parliament approves media reforms

* Both sides claim victory after last-minute amendments

CANBERRA, Feb 25 (Reuters) - Australia's parliament passed a law on Thursday to make Alphabet Inc's Google and Facebook Inc pay media companies for content on their platforms in reforms that countries such as Britain and Canada are looking to replicate.

After robust negotiations in which Facebook blocked all news content in the 13th-largest economy, the vote makes Australia the first nation where a government arbitrator can set the price tech giants pay domestic media if private talks fail.

"The code will ensure news media businesses are fairly remunerated for the content they generate, helping to sustain public interest journalism," Treasurer Josh Frydenberg and Communications Minister Paul Fletcher said in a joint statement.

Facebook's news ban, which also blacked out many nonprofit and government pages, including those of public health agencies promoting reliable information about COVID-19, would be lifted the following day, Frydenberg added in a radio interview, eight days after the measure took effect.

Representatives of both Google and Facebook did not immediately respond to Reuters' requests for comment.

The new law sets the stage for a dispute-handling process largely untested in corporate Australia, should negotiations between Big Tech and media companies fail. Its progress will be closely watched globally.

Both sides claimed victory after Australia offered Facebook some concessions, including government discretion to release the tech giants from arbitration if they can prove a "significant contribution" to the domestic news industry.

The revised code also allows the tech companies a longer period to cut media deals before the state intervenes. It will be reviewed within a year of taking effect, the joint statement said, but gave no start date.

For months Facebook and Google threatened to pull core services from Australia if the law took effect. But in the days before the vote, and before Facebook blocked news, Google struck some deals with publishers News Corp.

Several large Australian media companies, including Seven West Media, Nine Entertainment and the Australian Broadcasting Corp have said they were in talks with Facebook. (Reporting by Colin Packham in Canberra and Byron Kaye and Swati Pandey in Sydney; Writing by Jonathan Barrett; Editing by Jane Wardell and Clarence Fernandez)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.11% 2282.75 Delayed Quote.30.39%
FACEBOOK, INC. -0.53% 306.18 Delayed Quote.12.09%
NEWS CORPORATION 0.34% 26.7 Delayed Quote.48.58%
NINE ENTERTAINMENT CO. HOLDINGS LIMITED 0.00% 2.9 End-of-day quote.25.00%
SEVEN WEST MEDIA LIMITED 3.00% 0.515 End-of-day quote.56.06%
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Financials
Sales 2021 1 263 M 976 M 976 M
Net income 2021 137 M 106 M 106 M
Net Debt 2021 358 M 277 M 277 M
P/E ratio 2021 5,81x
Yield 2021 0,05%
Capitalization 792 M 612 M 612 M
EV / Sales 2021 0,91x
EV / Sales 2022 0,84x
Nbr of Employees 4 607
Free-Float 53,7%
Chart SEVEN WEST MEDIA LIMITED
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Technical analysis trends SEVEN WEST MEDIA LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 0,55 AUD
Last Close Price 0,52 AUD
Spread / Highest target 35,9%
Spread / Average Target 6,80%
Spread / Lowest Target -18,4%
EPS Revisions
Managers and Directors
NameTitle
James R. Warburton Chief Executive Officer, MD & Executive Director
Jeffrey Peter Howard Chief Financial Officer
Kerry Matthew Stokes Chairman
David Evans Independent Non-Executive Director
John Henry Alexander Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SEVEN WEST MEDIA LIMITED56.06%612
DISCOVERY, INC.25.69%23 133
FOX CORPORATION30.10%22 094
NEXSTAR MEDIA GROUP, INC.40.64%6 662
TEGNA INC.53.48%4 724
NINE ENTERTAINMENT CO. HOLDINGS LIMITED25.00%3 822