Shareholders approve Seven West-Southern Cross merger

The West Australian12-22 00:10

Shareholders in Seven West Media, the owner of the Seven television network, the West Australian newspaper and The Nightly, today overwhelmingly voted in favour of a merger with the company behind the...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2593716231?lang=en_US&edition=fundamental","thumbnail":"https://images.thewest.com.au/publication/C-21080683/e64c3fa9cc82236d56daa4e8ef027ffcf7e86b14.jpg","is_english":true,"pubTime":"2025-12-22 00:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2593716231","market":"us","top_or_hot":-1,"title":"Shareholders approve Seven West-Southern Cross merger","media":"The West Australian","content":"<div>\n<p>Shareholders in Seven West Media, the owner of the Seven television network, the West Australian newspaper and The Nightly, today overwhelmingly voted in favour of a merger with the company behind the...</p>\n\n<a href=\"https://thewest.com.au/business/media/seven-west-media-southern-cross-media-merger-shareholders-approve-media-deal-with-98-per-cent-vote--c-21080683\">Source Link</a>\n\n</div>\n","source":"thewest_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shareholders approve Seven West-Southern Cross merger</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShareholders approve Seven West-Southern Cross merger\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-22 00:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/business/media/seven-west-media-southern-cross-media-merger-shareholders-approve-media-deal-with-98-per-cent-vote--c-21080683><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shareholders in Seven West Media, the owner of the Seven television network, the West Australian newspaper and The Nightly, today overwhelmingly voted in favour of a merger with the company behind the...</p>\n\n<a href=\"https://thewest.com.au/business/media/seven-west-media-southern-cross-media-merger-shareholders-approve-media-deal-with-98-per-cent-vote--c-21080683\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0211327993.USD","symbol_name":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","start_time":0,"source_url":"https://thewest.com.au/business/media/seven-west-media-southern-cross-media-merger-shareholders-approve-media-deal-with-98-per-cent-vote--c-21080683","article_id":"2593716231","we_media_id":null,"thumbnails":["https://images.thewest.com.au/publication/C-21080683/e64c3fa9cc82236d56daa4e8ef027ffcf7e86b14.jpg"],"rights":{"source":"thewest_stock","url":"https://thewest.com.au/business/media/seven-west-media-southern-cross-media-merger-shareholders-approve-media-deal-with-98-per-cent-vote--c-21080683","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2593716231","pubTimestamp":1766333447,"columns":[],"sourceInfo":{"source_id":"thewest_stock","name":"The West Australian"},"weMediaInfo":null,"summary":"The companies behind two of the biggest brands in consumer media passed the final investor hurdle for their $385 million merger on Monday.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","IE00B29SXK94.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) ACC","LU1621767737.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"AAZ\" (EUR) ACC","SO":"美国南方公司","BK4081":"电力公用事业","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU1732800096.USD":"摩根大通环球收益基金A (irc)","IE00BMG7P819.SGD":"Legg Mason ClearBridge - Global Infrastructure Income A Mdis SGD-H Plus","BK4588":"碎股","LU1621767810.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"A\" (EUR) INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU1621768115.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"B\" (EUR) INC","IE00BMG7P587.USD":"LEGG MASON CLEARBRIDGE GLOBAL INFRASTRUCTURE INCOM \"A\" (USD) INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","LU2384288077.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"A-INS\" (EUR) ACC","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU1621768206.USD":"AZ EQUITY GLOBAL INFRASTRUCTURE \"AAZ\" (USD) ACC","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","BK4585":"ETF&股票定投概念","IE00BMG7P926.USD":"Legg Mason ClearBridge - Global Infrastructure Income A Acc USD","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU1929549753.HKD":"FRANKLIN INCOME \"A\" (HKD) INC","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","IE00BMG7P694.USD":"Legg Mason ClearBridge - Global Infrastructure Income A Mdis USD Plus","IE00B29SXL02.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) INC"},"translate_title":"股东批准Seven West-Southern Cross合并","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SO":1.5},"content_text":"Shareholders in Seven West Media, the owner of the Seven television network, the West Australian newspaper and The Nightly, today overwhelmingly voted in favour of a merger with the company behind the Triple M radio network, Southern Cross Media Group.Ninety-eight per cent of shares cast in advance of a shareholder meeting supported the $385 million deal, which will go to the New South Wales Supreme Court for approval on Tuesday and come into effect on January 7. Less than 1 per cent were against, meaning the transaction is certain to be approved once shares cast at the meeting are included.The overwhelming vote demonstrates that Seven shareholders, led by chairman Kerry Stokes, believe a larger business with exposure to the fast-growing podcast field - Southern Cross owns the popular LiSTNR online audio service - will provide greater financial stability at a time when streaming services such as Netflix are putting conventional television stations under pressure.Mr Stokes gave a short speech by video link then handed over to son Ryan Stokes, who oversaw the vote at Seven’s headquarters in Sydney.“It’s a somewhat momentous day in Seven’s history - the conclusion of one chapter and the exciting stage of another,” director Ryan Stokes told The Nightly after the meeting finished. “We become a much larger, stronger and better-positioned media company and that only bodes well for the journey going forwards.”MediaCommentsKerry Stokes, the last of the media moguls, is not done yetAaron Patrick updated updatedBusinessComments updatedSeven West reveals blockbuster merger with Southern CrossAaron Patrick and Tom RichardsonAlthough Southern Cross Media is legally buying Seven West Media, the scrip-based transaction will result in shareholders of both companies ending up with about 50 per cent of the combined company.Until a new name is chosen next year, the business will be called Southern Cross Media and trade on the stock exchange under the SXL ticker.The merged business will own 122 TV stations, 104 radio stations and newspapers across Western Australia. Annual revenue will be about $1.96 billion and operating profit $233 million, according to Seven West Media’s chief executive officer, Jeff Howard, who has been chosen as the new company’s CEO.Seven chairman and founder Kerry Stokes will step down as chairman February 26 and be replaced by Southern Cross chairman Heith Mackay-Cruise.The Stokes family will be represented on the board by Ryan Stokes, the chief executive of SGH, an industrials conglomerate that will hold 20 per cent of Southern Cross Media.Southern Cross investors were not required to vote on the deal.MediaSeven West, Southern Cross merger gets ACCC tickDanielle Le Messurier","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation,merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593716231","isCrawlerRequest":true}