Seven West Media Shareholders Back Southern Cross Takeover with Strong Majority
Seven West Media shareholders have overwhelmingly approved the proposed acquisition by Southern Cross Media Group, clearing a major hurdle ahead of final court approval.
- 88.34% of shareholders voted in favor of the scheme
- Scheme pending final Supreme Court approval on 23 December 2025
- SWM shares to be suspended from trading on 24 December 2025
- Scheme implementation expected on 7 January 2026
- Southern Cross shares to commence ordinary trading on 8 January 2026
Shareholder Approval Secures Key Step
Seven West Media Limited (ASX – SWM) has taken a decisive step forward in its proposed acquisition by Southern Cross Media Group Limited (ASX – SXL). At the Scheme Meeting held on 22 December 2025, an overwhelming 88.34% of shareholders present and voting endorsed the scheme of arrangement, signaling strong support for the transaction. This level of backing is a critical milestone, reflecting shareholder confidence in the deal’s strategic rationale and anticipated benefits.
Awaiting Court Sanction
While shareholder approval is a significant hurdle cleared, the scheme remains subject to the Supreme Court of New South Wales’ sanction, scheduled for 23 December 2025. The court’s approval is the final legal step required before the scheme can become effective. Provided the court grants its approval and all customary conditions precedent are satisfied or waived, the scheme will proceed to implementation.
Implications for Trading and Shareholders
Following court approval, Seven West Media shares are expected to be suspended from trading on the ASX from the close of trading on 24 December 2025. This suspension marks the transition phase as the scheme moves towards completion. Southern Cross Media shares will begin trading on a deferred settlement basis on 29 December 2025, with the official record date for entitlements set for 30 December 2025. The scheme’s implementation date is slated for 7 January 2026, when Southern Cross will provide the scheme consideration to SWM shareholders. Ordinary settlement trading of Southern Cross shares is expected to commence on 8 January 2026, accompanied by the dispatch of holding statements to new shareholders.
Strategic Outlook
The acquisition represents a significant consolidation within the Australian media broadcasting sector, potentially reshaping market dynamics. Southern Cross Media’s expanded portfolio following this transaction could enhance its competitive positioning and operational scale. For Seven West Media shareholders, the scheme offers an exit opportunity at agreed terms, subject to the final court and regulatory approvals.
Looking Ahead
Market participants will closely monitor the court hearing outcome and any regulatory developments in the coming days. The smooth execution of the scheme will be pivotal for both companies as they navigate integration and market expectations in early 2026.
Bottom Line?
With shareholder approval secured, all eyes now turn to the court’s verdict that will unlock the next phase of this major media consolidation.
Questions in the middle?
- Will the Supreme Court of New South Wales approve the scheme without conditions?
- How will Southern Cross Media integrate Seven West Media’s assets post-acquisition?
- What impact will the share suspension and transition have on market liquidity and investor sentiment?
