Australia's media landscape has undergone a major transformation with the official completion of the merger between Southern Cross Media Group and Seven West Media. The landmark deal, finalised on Wednesday, 7 January 2026, unites two of the nation's most prominent broadcast and publishing forces.
The Deal Structure and New Leadership
The $385 million scrip-based acquisition saw Seven West Media shareholders receive 0.1552 shares in Southern Cross Media for each share they held. Despite Southern Cross being the legal acquirer, the transaction results in shareholders from both companies owning approximately 50 per cent of the newly combined entity.
Jeff Howard, the former managing director of Seven West Media, has taken the helm as the managing director and chief executive of the merged group. In a communication to staff, Howard expressed confidence in the union, stating the combined company could unlock new opportunities by extending storytelling capabilities to wider audiences.
"SCA’s strength in audio and track record of delivering results speaks for itself," Howard said. "Seven West Media’s platform leadership and content powerhouse status is unmatched. Together, our combined opportunity is extraordinary."
Board Changes and Asset Portfolio
The merger triggers significant leadership changes. John Kelly has stepped down as chief executive of Southern Cross and will now lead its audio division. Seven West Media's chief financial officer, Craig Haskins, has announced his intention to retire after a transition period this quarter, with Toby Potter serving as interim CFO.
Kerry Stokes, the chair of Seven West Media, will chair the new board until the end of February 2026. He will then be succeeded by Southern Cross director Heith Mackay-Cruise.
The combined company's impressive portfolio now includes the Seven Network television channels, West Australian Newspapers (publisher of The West Australian, The Sunday Times, and The Nightly), the LiSTNR digital platform, and the Hit and Triple M radio networks. The business will trade on the Australian Securities Exchange under the ticker SXL until a new permanent name is selected.
Market Implications and Future Trading
The completion of this merger creates one of Australia's most diversified media companies, spanning free-to-air television, metropolitan and regional radio, streaming, and major newspaper publications. The consolidation is seen as a strategic move to create a more robust competitor in the rapidly evolving digital media environment.
Shares in the combined entity are scheduled to commence trading on the ASX from Thursday, 8 January 2026, marking the next chapter for this newly formed media powerhouse. The deal, overwhelmingly approved by Seven West Media shareholders last month, represents a significant realignment of traditional media assets in the Australian market.
