Stokes said Warburton had helped steer the company through a difficult period,joining with the company’s share price at a then-record low of 38¢.
“I would like to thank James for his energy,enthusiasm and outstanding contribution. James came to SWM[Seven West Media] at a difficult time and has been immensely successful in reinvigorating Seven’s ratings,strengthening the balance sheet and setting Seven up for future success.”
Warburton has been chief executive of Seven since mid-2019. He succeeded Tim Worner.
In fiscal year 2023,Warburton brokered new long-term deals with bothCricket Australia and theAFL,alongside a content deal with US studio NBCUniversal,securing guaranteed eyeballs for years to come.
The company also recently splashed out ona near 20 per cent stake in radio-focused media company ARN worth up to $50 million,however Seven said a future takeover bid was not on the cards.
In 2022,Seven acquired regional media company Prime Media and its assets in a deal worth $132 million,creating a national media business and bringing to an end a multi-year takeover saga.
Since 2019,the company has reduced its debt from a near-$600 million to $249 million.