Magazine assets drag Seven to $109m loss KERRY Stokes's Seven West Media has posted a net loss after tax of $109.3 million, a result hit by asset writedowns as the advertising recession continues to bite media companies. The loss for the first half of 2012-13 was down from a $163m profit in the previous corresponding period partly because of a $255m impairment charge on its magazine and digital media assets. The writedown -- foreshadowed by The Australian earlier this month -- also includes restructuring costs as Seven West Media chief executive Don Voelte slashes operating costs.