The profit warning was that first half EBIT would likley by down...

The profit warning was that first half EBIT would likley by down 20%. This should have already been known by the market. Fin Review had previously run articles on SEV's poor ratings following the Olympics. The Olympics were good for SEV but their regular programmes are only average. Should make little difference to a potential suitor, particularly one that would have access to its own programmes as a result of existing pay to air programming.

"The Seven Network bit the dust today after chairman Kerry Stokes told shareholders that first-half EBIT was expected to be down around 20 per cent and profit for the full year would be less than last year.

The shares slumped 63c at one stage as a result, but recovered somewhat to end 13c weaker at $5.70 and declined 17c over the week."