Network Seven’s parent, Seven West Media, is poised to be absorbed into Southern Cross Media after shareholders—led by controlling investor Kerry Stokes—backed the takeover.
At the company’s Eveleigh headquarters in Sydney on Monday, 97.9% of votes cast supported the merger. The tie-up will bring together Seven’s free-to-air television network and West Australian newspaper assets with Southern Cross’s Triple M and Hit radio brands, the Listnr audio app and its regional radio station portfolio.
Under the terms, Seven West shareholders will receive 0.1552 Southern Cross shares for each Seven West share and will hold 49.9% of the combined entity. Southern Cross shareholders will hold the remaining 50.1%.
Announced in September, the deal is being implemented via a Scheme of Arrangement, requiring support from a majority of shareholders and at least 75% of votes cast. While 11.8% of Seven West shareholders opposed the proposal, they accounted for less than 1% of the company’s shares. Stokes’ 40% stake proved decisive in securing approval.
Confidence the deal would pass was reflected in the brief meeting itself. Stokes appeared for under four minutes to open proceedings before handing over to his son, Ryan Stokes, who sits on the board. Herbert Smith Freehills Kramer partner Rebecca Maslen-Stannage, chair of Seven West’s legal advisers, attended with five junior lawyers to observe the vote.
The address was among Stokes’ final acts as chair ahead of his planned February departure, with Southern Cross chair Heith Mackay-Cruise set to assume the role.
Ryan Stokes sat with Seven West—and incoming merged group—chief executive Jeff Howard, directors Teresa Dyson and Michael Ziegelaar, and company secretary Warren Coatsworth. Outgoing director Michael Malone joined virtually. The meeting concluded in under 15 minutes.
The transaction will go to court for approval on Tuesday. Seven West shares are scheduled to stop trading on Wednesday, with new shares in the combined company expected to begin trading on January 8, 2026.