Kerry Stokes' media conglomerate owns the Seven Network and Perth masthead The West Australian.
Its television network was the subject of a Four Corners expose on Monday, airing allegations of bullying and sexism, and a toxic workplace culture.
The week has not improved for Seven, with pre-tax earnings falling by a third to $187 million.
"There is no doubt that FY 24 was a tough year for Seven West Media and probably many in the sector," managing director and chief executive officer Jeff Howard told investors on a call.
Seven West Media boss Jeff Howard told investors the past year was challenging for the firm. (Lukas Coch/AAP PHOTOS)
Group revenue is down five per cent to $1.4 billion on the previous full year, while net debt has climbed to $301 million.
The company's previous chief executive and managing director James Warburton stepped down earlier than expected in April.
It followed allegations heard in the Federal Court that the Seven Network paid for illicit drugs and sex workers in order to secure an interview with former Liberal staffer Bruce Lehrmann.
In June, the company restructured into three divisions and cut its executive ranks as it tried to reduce costs by about $100 million.
But costs have climbed two per cent to $1.23 billion.
Perth newspaper The West saw broadly flat revenue of $172 million with pre-tax earnings down 13 per cent to $27 million.
No dividend will be paid to investors.
Seven shares are trading around 16 cents, having dropped from 40 cents a year ago.
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