breakingSeven West Media-Southern Cross Media merger: Shareholders approve media deal with 98 per cent vote Aaron PatrickThe NightlyMon, 22 December 2025 8:10AMCommentsCommentsEmail Aaron Patrick
Shareholders in Seven West Media, the owner of the Seven television network, the West Australian newspaper and The Nightly, today overwhelmingly voted in favour of a merger with the company behind the Triple M radio network, Southern Cross Media Group.
Ninety-eight per cent of shares cast in advance of a shareholder meeting supported the $385 million deal, which will go to the New South Wales Supreme Court for approval on Tuesday and come into effect on January 7. Less than 1 per cent were against, meaning the transaction is certain to be approved once shares cast at the meeting are included.
The overwhelming vote demonstrates that Seven shareholders, led by chairman Kerry Stokes, believe a larger business with exposure to the fast-growing podcast field – Southern Cross owns the popular LiSTNR online audio service – will provide greater financial stability at a time when streaming services such as Netflix are putting conventional television stations under pressure.
Mr Stokes gave a short speech by video link then handed over to son Ryan Stokes, who oversaw the vote at Seven’s headquarters in Sydney.
“It’s a somewhat momentous day in Seven’s history – the conclusion of one chapter and the exciting stage of another,” director Ryan Stokes told The Nightly after the meeting finished. “We become a much larger, stronger and better-positioned media company and that only bodes well for the journey going forwards.”
Although Southern Cross Media is legally buying Seven West Media, the scrip-based transaction will result in shareholders of both companies ending up with about 50 per cent of the combined company.
Until a new name is chosen next year, the business will be called Southern Cross Media and trade on the stock exchange under the SXL ticker.
Seven’s chief executive officer, Jeff Howard, has been chosen as the new CEO. Seven chairman and founder Kerry Stokes will step down as chairman February 26 and be replaced by Southern Cross chairman Heith Mackay-Cruise.
The Stokes family will be represented on the board by Ryan Stokes, the chief executive of SGH, an industrials conglomerate that will hold 20 per cent of Southern Cross Media.
Southern Cross investors were not required to vote on the deal.
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