Kerry Stokes says goodbye to his shareholders as SWM accelerates its cuts

Kerry Stokes Says Farewell to Shareholders as SWM Speeds Up Cuts

Although Kerry Stokes will remain chairman for another three months, he today said goodbye to shareholders at Seven West Media’s final annual general meeting before its merger with Southern Cross Austereo.

Stokes reminded attendees that while he plans to step down in February, his son Ryan will continue serving on the new board, ensuring the family maintains an indirect interest in the business.

Stokes’ Stake and Transition

Note on AFL and Ratings

“We expect the poor scheduling from the AFL this year will be rectified in the coming season to help deliver even stronger audiences for our suite of live sport.”

In a surprising remark, Stokes criticized Seven’s long-term sports partner, the AFL, hinting that this season’s weak ratings were partly due to their scheduling.

Mixed Shareholder Sentiments

Stokes’ departure is not met with universal gratitude, as shareholders have witnessed the share price soar and then sharply decline in recent times.

“Although he remains in the chair for another three months, Kerry Stokes farewelled shareholders today.”

Author’s summary: Kerry Stokes prepares to step down after Seven West Media’s merger, maintaining family involvement despite shrinking stakes, and calls for AFL to improve sports scheduling amid fluctuating shareholder confidence.

more

Mumbrella Mumbrella — 2025-11-06

More News