MediaWorks woes: past, present and future

Cam Wallace led MediaWorks for an IPO that never came (Image: MediaWorks)

Fri, 03 Nov 2023

The staggering $126 million loss reported by MediaWorks for 2022 might have taken some people in the media by surprise, but to many close observers and past associates, the company’s desperate financial struggles have been years in the making.A $110m impairment last year saw the radio and outdoor advertising group’s losses deepen from the $4.9m deficit recorded in 2021. As this year has shown, it’s hard to make money in the media in a downturn. But MediaWorks has been suffering for a lot longer than that.GFCThose looking...

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