Court Greenlights Southern Cross Takeover of Seven West Media
The Supreme Court of New South Wales has approved Southern Cross Media's acquisition of Seven West Media, setting the stage for a significant media industry consolidation early next year.
- Court approval finalizes Southern Cross acquisition of Seven West Media
- Scheme of arrangement effective from 24 December 2025
- Seven West Media shares suspended from ASX trading on 24 December
- Shareholders to receive 0.1552 Southern Cross shares per Seven West share
- Implementation and share trading changes scheduled for early January 2026
Court Approval Marks Major Milestone
Seven West Media Limited (ASX, SWM) has reached a pivotal moment in its corporate journey with the Supreme Court of New South Wales granting approval for its acquisition by Southern Cross Media Group Limited (ASX, SXL). This judicial endorsement clears a significant hurdle, allowing the proposed scheme of arrangement to proceed as planned.
Key Dates and Shareholder Impact
The scheme will officially become effective once the court orders are lodged with the Australian Securities and Investment Commission on 24 December 2025. On that day, Seven West Media shares will be suspended from trading on the ASX, signaling the transition phase. Shareholders of Seven West Media will receive 0.1552 Southern Cross shares for each share they hold, with entitlements determined as of 7, 00pm Sydney time on 30 December 2025.
Transition and Trading Timeline
Following the effective date, Southern Cross shares will begin trading on a deferred settlement basis from 29 December 2025. The implementation date, expected on 7 January 2026, will see the formal provision of scheme consideration to Seven West shareholders. Ordinary trading of the new Southern Cross shares is slated to commence on 8 January 2026, alongside the expected dispatch of holding statements to shareholders.
Strategic Implications for the Media Landscape
This acquisition represents a significant consolidation in Australia's media sector, combining two of the country's prominent media entities. Seven West Media's extensive portfolio; including the Seven Network, leading news outlets, and digital platforms; will now integrate with Southern Cross's operations, potentially reshaping competitive dynamics and content offerings. Market watchers will be keen to observe how this merger influences advertising revenues, audience reach, and programming strategies.
Looking Ahead
While the court approval is a critical step forward, the transaction remains subject to final regulatory and shareholder approvals. Any adjustments to the timetable will be communicated promptly. Investors should prepare for the share suspension and monitor Southern Cross's share performance as the integration unfolds in early 2026.
Bottom Line?
With court approval secured, the media sector braces for a transformative merger that could redefine Australia's broadcasting landscape.
Questions in the middle?
- How will Southern Cross integrate Seven West Media’s diverse assets operationally?
- What impact will the merger have on advertising market share and revenue streams?
- Could regulatory scrutiny or shareholder dissent still alter the transaction timeline?
