Southern Cross Austereo and television and publishing network Seven West Media have announced plans to merge. The deal would bring a number of major Australian media properties under one roof.

Mumbrella reports: Seven West Media owns the Seven television network, a number of regional TV licences, plus The West Australian, The Sunday Times, and the Community Newspaper Group — which publishes 23 community newspapers in Perth. It also owns The Nightly, a digital-only publication aimed at the eastern states.

Southern Cross Austereo brings Triple M’s 45 radio stations, and the Hit Network’s 41 stations, including Melbourne’s The Fox, and Sydney’s 2DayFM. It also owns the Listnr audio platform, which became profitable during 2024.

Interestingly, SCA recently got out of the TV business, selling its remaining television stations to Seven West Media in July, for $3.75 million.

The deal at a glance:

• The merged entity doesn’t yet have a name.
• Seven CEO Jeff Howard to be MD and CEO of the merged group.
• SCA CEO John Kelly to be Group MD, Audio.
• Seven’s Kerry Stokes to chair until Feb 2026, then SCA’s Heith Mackay-Cruise takes over.
• SWM shareholders will get 0.1552 SCA shares for each SWM share.
• Ownership split: SCA 50.1%, SWM 49.9%.
• $25–30 million annual pre-tax cost synergies expected.
• Expected to be >100% EPS accretive to SCA shareholders.
• Scheme of arrangement, unanimously recommended by SWM’s board (absent a superior proposal).
• Subject to regulatory approvals and shareholder approval.

According to an ASX filing this morning, the proposed merger will save up to $30m in shared costs, and generate additional revenue.
Jeff Howard will be the Managing Director and CEO of the combined group and John Kelly will assume the role of Group Managing Director, Audio.

(Story courtesy of Nathan Jolly – Mumbrella)