Southern Cross Media Finalises Seven West Merger, Jeff Howard Takes Helm
Southern Cross Media Group has completed its acquisition of Seven West Media, issuing new shares and announcing key leadership and board changes that reshape Australia's media landscape.
- Southern Cross acquires all issued shares of Seven West Media
- Seven shareholders receive 0.1552 Southern Cross shares per Seven share
- Jeff Howard appointed Managing Director & CEO of Southern Cross
- Board reshuffle includes Kerry Stokes as interim Chair
- Seven CFO Craig Haskins to retire, Toby Potter interim CFO
Completion of the Scheme of Arrangement
On 7 January 2026, Southern Cross Media Group officially completed its long-anticipated acquisition of Seven West Media through a Scheme of Arrangement. This transaction consolidates Southern Cross's ownership of all issued shares in Seven West Media, marking a significant milestone in the Australian media sector. Seven shareholders received 0.1552 Southern Cross shares for each Seven share held as of 30 December 2025, with the new shares commencing ordinary trading on 8 January 2026.
Leadership and Board Changes Signal New Direction
Alongside the merger, Southern Cross announced a substantial reshuffle of its leadership team and board. Jeff Howard, formerly associated with Seven West Media, steps into the role of Managing Director and CEO of Southern Cross, bringing continuity and experience to the newly merged entity. His remuneration package reflects the scale of responsibility, with a total potential remuneration of $3.75 million, including fixed and incentive components.
John Kelly, the outgoing CEO and Managing Director of Southern Cross, transitions to focus on the audio division as Group Managing Director, Audio, highlighting the company's strategic emphasis on its diverse media assets. Meanwhile, Seven's Chief Financial Officer Craig Haskins has declared his intention to retire after a transition period this quarter, with Toby Potter stepping in as interim CFO during the search for a permanent replacement.
Board Composition and Interim Leadership
The board now includes notable figures such as Kerry Stokes AC, who assumes the role of interim Chair until the end of February 2026, when Heith Mackay-Cruise will take over. Other new appointments include Ryan Stokes AO, Michael Malone, and Teresa Dyson as Non-Executive Directors. The board reshuffle reflects a blend of continuity and fresh perspectives aimed at steering the combined company through its integration phase.
A Media Powerhouse Emerges
This merger creates one of Australia's most prominent media companies, with a commanding presence across broadcast television, audio, publishing, and digital platforms. The combined portfolio includes the Seven Network and its suite of channels, the LiSTNR digital audio platform, and major radio networks such as Hit and Triple M. With a monthly reach of over 17.5 million for the Seven Network alone, the new Southern Cross is positioned to be a dominant force in Australian media.
The company’s extensive content offerings, including popular news, sports, and entertainment programming, alongside significant broadcast partnerships with major sporting events, underscore its market influence. The integration of these assets under Southern Cross’s leadership will be closely watched by investors and industry observers alike.
Bottom Line?
As Southern Cross Media embarks on this new chapter, the market will be keenly watching how leadership and integration challenges unfold.
Questions in the middle?
- Who will be appointed as the permanent CFO following Craig Haskins’ retirement?
- How will Southern Cross manage the integration risks and realise synergies from the merger?
- What strategic priorities will Jeff Howard pursue to capitalise on the expanded media portfolio?
