Seven West Media AGM and Upcoming Merger
On November 6, Seven West Media held its AGM and trading update, marking Kerry Stokes' final event as Chairman ahead of the anticipated merger with Southern Cross Austereo (SCA). The company reported its first EBITDA growth since FY22, although total television advertising revenue declined.
Kerry Stokes on Sports Access and AFL Scheduling
Stokes emphasized the importance of Australians maintaining free access to sports, while also criticizing the AFL's "poor scheduling" for negatively impacting audiences.
Comments on the Merger
“We fit together exceptionally well, a seamless combination of high-value brands across free-to-air television, streaming, audio, digital and publishing assets.”
Stokes highlighted the strong alignment between the two companies as they prepare to merge.
CEO Jeff Howard's Perspective
“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.”
Summary
The merger promises to unite valuable media assets, creating a powerful national media group with broad audience reach across multiple platforms.
Author's Summary
The Seven West Media and Southern Cross Austereo merger aims to form a dynamic, nationwide media company combining diverse platforms and strong brands.