"We fit together exceptionally well": Kerry Stokes on the SCA merger at his final Seven West Media AGM
On November 6, Seven West Media held its Annual General Meeting and trading update, marking Kerry Stokes' final appearance as Chairman before the anticipated merger with Southern Cross Austereo (SCA). The company reported its first EBITDA growth since FY22, although overall television advertising revenue had declined.
During his address, Stokes emphasized the importance of maintaining free access to sports for Australians and made a pointed remark toward the AFL for what he described as "poor scheduling" that negatively affected audiences.
“We fit together exceptionally well, a seamless combination of high-value brands across free-to-air television, streaming, audio, digital and publishing assets.”
Looking ahead to the merger, Seven West Media CEO Jeff Howard, who is expected to lead the combined entity, stated:
“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
At his final AGM, Kerry Stokes highlighted the strong synergy between Seven West Media and SCA, projecting that their merger will form a unified national media powerhouse.