SCA Secures ACMA Approval, Paving Way for Seven West Media Merger
Southern Cross Media Group has secured crucial ACMA approval for its proposed merger with Seven West Media, advancing a major consolidation in Australia’s media landscape. The deal now moves closer to final shareholder approval.
- ACMA grants approval under Broadcasting Services Act for SCA-SWM merger
- SCA commits to potential divestments, deemed non-material to combined group
- All regulatory conditions precedent under Scheme Implementation Deed now satisfied
- SWM shareholder meeting scheduled for 22 December 2025 to approve merger
- SCA advocates for media ownership law reforms to retain all broadcasting licences
Regulatory Milestone Achieved
Southern Cross Media Group (SCA) has announced a significant regulatory win, receiving formal approval from the Australian Communications and Media Authority (ACMA) for its proposed acquisition of Seven West Media (SWM). This approval satisfies a key condition precedent under the Scheme Implementation Deed, marking a pivotal step forward in the merger process.
The ACMA’s endorsement, granted under section 61AJ(4) of the Broadcasting Services Act 1992, signals regulatory confidence in the transaction’s compliance with media ownership rules. SCA has provided undertakings to the ACMA, including potential divestments, which the company expects will not materially affect the scale or operations of the combined entity.
Implications for the Media Landscape
The merger, if completed, would create one of Australia’s largest media companies, combining SCA’s extensive radio networks and digital audio platform LiSTNR with SWM’s diverse media assets. This consolidation reflects ongoing trends in the media sector, where scale and cross-platform reach are increasingly critical to compete in a rapidly evolving digital environment.
Notably, SCA has expressed a commitment to advocating for reforms to existing media ownership laws, aiming to retain all current commercial broadcasting licences post-merger. Such regulatory changes could reshape the competitive landscape and set precedents for future media consolidations.
Next Steps and Market Watch
With the ACMA condition precedent now satisfied, the merger remains subject to other customary conditions and crucially, shareholder approval from SWM, scheduled for 22 December 2025. Market participants will be closely watching this vote, as well as any further regulatory developments or required divestments that could influence the final structure and value of the combined group.
Southern Cross Media Group’s CEO John Kelly and Communications Director Jane Elliott have underscored the company’s readiness to proceed, highlighting the strategic benefits and potential for innovation that the merger promises.
Bottom Line?
With regulatory green lights in place, all eyes turn to shareholder approval and the future shape of Australia’s media ownership rules.
Questions in the middle?
- What specific assets might SCA divest to satisfy regulatory concerns, and how material will these be?
- How will SWM shareholders respond at the upcoming scheme meeting on 22 December?
- What is the likelihood and timeline for proposed reforms to the Broadcasting Services Act?
