Australia’s media regulator, the Australian Communications and Media Authority (ACMA), has given the go-ahead for Southern Cross Media’s takeover of Seven West Media. The approval is contingent upon the companies selling 17 radio stations to comply with media diversity regulations. Southern Cross Media Group Limited is an Australian media company operating radio, television, and digital assets. Seven West Media is one of Australia’s leading media companies, with a large presence in broadcast television, newspapers, and digital platforms.
The merger, initially announced in late September, aims to create a larger media entity by combining Southern Cross’s radio assets—including Hit and Triple M stations, a regional radio network, and the Listnr app—with Seven West’s television network and newspaper holdings. The takeover will see Kerry Stokes relinquish his role as Seven West chairman. His stake, previously around 40 per cent, will be reduced to approximately 20 per cent in the new, combined company.
The combined entity would breach Australia’s media diversity rules in 17 areas across regional Western Australia, Victoria, and Queensland. Affected locations include Mt Isa and Roma in Queensland, Mildura in Victoria, and Bunbury, Kalgoorlie, Esperance, and Port Hedland in Western Australia. ACMA’s approval mandates that Southern Cross Media must divest assets in these areas within one year to ensure compliance with media ownership regulations.
