Kerry Stokes will resign as chair of Seven West Media following the company's announcement of a merger with Southern Cross Media. This significant partnership will unite the radio networks Triple M and Hit with the Seven Network, marking a pivotal moment for the Australian media landscape.
Stokes, who is a prominent media figure, will step down from his role as chairman of Seven West Media, which operates Channel 7 and publishes The West Australian newspaper. He will lead the board of the newly formed entity until February 2026, at which point Heith Mackay-Cruise, the current chair of Southern Cross Radio, will take over.
Jeff Howard, the current managing director and CEO of Seven West Media, will assume the role of chief executive for the merged company. Stokes expressed optimism about the merger, stating, "The combination of these two companies brings together the best creators of media content in the country, delivering significant financial and strategic benefits for SWM shareholders."
He added, "This is an important merger, as the combined company will be better able to serve both metropolitan and regional viewers, listeners, partners, and advertisers. It will add strength to each of the combined businesses' television, audio, digital, and publishing operations across the country."
As part of the merger agreement, Seven West Media shareholders will receive 0.1552 shares of Southern Cross Austereo for each share they hold in Seven West Media. This arrangement will result in SWM shareholders owning 49.9 percent and SCA shareholders owning 50.1 percent of the new entity. The merger is expected to reshape the media landscape in Australia, enhancing the capabilities and reach of both companies.