Southern Cross Media Finalises Seven West Media Takeover Scheme

Legal Approval Secures Acquisition Pathway

Southern Cross Media Group Limited (SXL) has achieved a critical milestone in its acquisition of Seven West Media Limited (SWM) after the Supreme Court of New South Wales granted formal approval of the Scheme of Arrangement. This legal endorsement, announced on 24 December 2025, confirms the court’s support for the proposed takeover, allowing the transaction to proceed to its final stages.

The court’s approval is a pivotal step under the Corporations Act 2001, enabling Southern Cross to consolidate its position in the Australian media sector by acquiring all issued shares of Seven West Media. The ruling exempts certain compliance requirements, smoothing the path for the scheme’s implementation.

Share Suspension and Exchange Details

Following the court’s decision, Seven West Media shares are expected to be suspended from trading on the Australian Securities Exchange (ASX) at the close of business on 24 December 2025. This suspension marks the transition phase as the scheme moves toward completion.

On the implementation date, anticipated to be 7 January 2026, shareholders of Seven West Media will receive 0.1552 Southern Cross shares for each Seven West share they hold as of 7 – 00pm Sydney time on 30 December 2025. This share exchange ratio sets the terms for ownership transfer and reflects the agreed valuation underpinning the deal.

Strategic Implications for Southern Cross Media

The acquisition significantly expands Southern Cross Media’s portfolio, integrating Seven West’s assets into its existing media operations. Southern Cross Austereo, a subsidiary of Southern Cross Media, is already a major player in Australian broadcasting and digital audio, with a strong presence through its LiSTNR app and popular radio networks such as Hit and Triple M.

This deal positions Southern Cross Media to leverage combined content offerings, audience reach, and advertising capabilities, potentially reshaping competitive dynamics in the media industry. However, the integration process will require careful management to realise anticipated synergies and maintain operational stability.

Next Steps and Market Watch

With the scheme now legally effective, attention turns to the formal implementation and the market’s reaction to the share suspension and subsequent resumption under the new ownership structure. Investors will be watching closely for updates on integration plans, potential cost efficiencies, and strategic direction from Southern Cross Media’s leadership team.

As the media landscape continues to evolve, this acquisition underscores the ongoing consolidation trend and the importance of scale in competing for audience attention and advertising revenue.