Kerry Stokes rules out Seven sale as networks confront weak advertising market

Seven West Media chairman Kerry Stokes has ruled out any sale of the free-to-air broadcaster as  television networks confront a bleak advertising market and ongoing softness in the broader economy.The media tycoon, who has had a significant stake in the business since 1995, said there were three television networks, two east coast newspaper chains and one in Western Australia and "that's not going to change". Asked whether he had any plans to sell Seven, Mr Stokes said "No". He added he had given new chief executive James Warburton "a chance to grow the business". Seven was in advanced talks with Fairfax Media before the publisher merged with Nine Entertainment Co last year. Nine is now the owner of The Sydney Morning Herald and The Age. Since Mr Warburton replaced Tim Worner as chief executive of the television network there has been persistent speculation the company may be involved in significant corporate deals.  Mr Warburton previously said nothing was "on or off the table".

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