Leadership Shifts and CFO Retirement Follow Southern Cross’s Seven West Media Acquisition

Acquisition Completion Marks New Era

Southern Cross Media Group has officially completed its long-anticipated acquisition of Seven West Media, consolidating two of Australia's most influential media companies. The Scheme of Arrangement, which was proposed late last year, was implemented on 7 January 2026, resulting in Southern Cross holding 100% of Seven's issued shares. This merger creates a media powerhouse with a commanding presence across broadcast television, radio, publishing, and digital platforms.

Shareholders Transition and Market Impact

Seven West Media shareholders received their scheme consideration in the form of Southern Cross shares at a ratio of 0.1552 Southern Cross shares for each Seven share held as of 30 December 2025. These new shares began trading on an ordinary settlement basis on 8 January, marking a significant capital restructuring for Southern Cross. This share issuance not only reflects the value accorded to Seven shareholders but also signals the start of a new chapter for the combined entity in the Australian media landscape.

Leadership and Board Reshuffle

The merger has triggered notable leadership changes. Jeff Howard, formerly associated with Seven West Media, steps into the role of Managing Director and CEO of Southern Cross, bringing continuity and fresh strategic direction. His remuneration package aligns with previously disclosed terms, reflecting confidence in his leadership. Meanwhile, John Kelly steps down as CEO and Managing Director but remains within the group as Managing Director, Audio, ensuring expertise retention in Southern Cross's audio division.

On the board front, Kerry Stokes AC assumes the interim Chair role, with plans to hand over to Heith Mackay-Cruise by the end of February 2026. Other new appointments include Ryan Stokes AO, Michael Malone, and Teresa Dyson, who join existing directors to steer the newly merged company. However, Michael Malone will also step down at the end of February, indicating a transitional phase in governance.

Financial Leadership Transition

Seven’s Chief Financial Officer, Craig Haskins, has announced his intention to retire following a transition period this quarter. Toby Potter will continue as Southern Cross’s interim CFO while a search for a permanent replacement is underway. This leadership continuity is critical as the company navigates integration challenges and seeks to capitalise on synergies from the merger.

A Media Giant with Broad Reach

The combined Southern Cross and Seven West Media entity now commands a diverse portfolio of Australia’s most recognised media brands, including the Seven Network and its multiple channels, the LiSTNR digital audio platform, and a vast network of radio stations under Hit and Triple M. The merger enhances the company’s reach to over 17.5 million television viewers monthly and millions more across digital and audio platforms, positioning it strongly against competitors in a rapidly evolving media environment.

As the dust settles on this landmark acquisition, all eyes will be on how Southern Cross leverages its expanded assets and leadership team to drive growth and innovation in Australian media.