"We fit together exceptionally well" — Kerry Stokes on Seven West Media and SCA Merger
On November 6, Seven West Media held its Annual General Meeting and trading update, marking Kerry Stokes’ final appearance as Chairman. The event came ahead of the expected merger with Southern Cross Austereo (SCA).
Financial Update
The company reported its first EBITDA growth since FY22, although overall television advertising revenue declined.
Kerry Stokes' Remarks
Stokes emphasized the significance of ensuring Australians maintain free access to sports broadcasts. He also commented on the AFL, criticizing its scheduling practices for negatively impacting audiences.
“We fit together exceptionally well, a seamless combination of high-value brands across free-to-air television, streaming, audio, digital and publishing assets.”
Comments from CEO Jeff Howard
Current Seven West Media CEO Jeff Howard, slated to lead the merged company, supported Stokes’ optimism about the merger.
“Bringing together the complementary assets and brands of Seven West Media and Southern Cross will create a truly national, diversified media organisation, one with extensive scale and reach across free-to-air television, streaming, audio, digital and publishing assets. The possibilities will bring a new energy to Seven West Media.”
Author’s Summary
The final AGM under Kerry Stokes highlighted renewed financial momentum and a confident outlook for Seven West Media’s merger with SCA, set to reshape Australia’s media landscape.