Seven West Media Shares Surge After Southern Cross Takeover Approval
On 22 December 2025, the Australian media landscape was jolted by a decisive corporate decision: Seven West Media Limited (ASX: SWM) shareholders overwhelmingly endorsed a scheme of arrangement that will see the company acquired by Southern Cross Media Group Limited (ASX: SXL).
A Clear Majority of Shareholders Back the Deal
In a meeting held at 10:00 am Sydney time, 88.34 % of shareholders present and voting—whether in person, by proxy, attorney, or corporate representative—approved the scheme resolution. An even more striking figure is that 99.36 % of the votes cast were in favour, underscoring the confidence investors placed in Southern Cross’s proposal. The resolution was announced in a Scheme Booklet dated 12 November 2025 and complied with ASX Listing Rule 3.13.2 and the Corporations Act 2001, section 251AA.
What the Scheme Entails
Under the arrangement, Southern Cross will acquire all outstanding shares of Seven West Media, effectively merging the two media giants. The scheme remains contingent on judicial approval from the Supreme Court of New South Wales, with a hearing scheduled for the following day. Once approved, the transaction will be executed through a formal court-sanctioned mechanism rather than a traditional share purchase, providing legal certainty for both parties.
Market Reaction and Context
Seven West Media, a diversified communication services firm, operates a television network, magazines, newspapers, radio, and internet services across Australia. With a market capitalisation of AUD 192 million, a price‑to‑earnings ratio of 11.57, and a closing share price of AUD 0.125 on 18 December 2025, the company has experienced modest volatility, trading between a 52‑week low of AUD 0.12 and a high of AUD 0.185 earlier in the year.
The takeover offers Southern Cross a broader portfolio and a stronger presence in key Australian markets. For Seven West shareholders, the deal represents a premium valuation and the prospect of integrating with a larger, well‑established media conglomerate.
Next Steps
Following the court’s decision, the transaction will be formalised, and the shares of Seven West Media will be exchanged for Southern Cross’s consideration. Investors and analysts will monitor the Supreme Court hearing closely, as its outcome will determine whether the scheme is fully consummated or requires further negotiation.
In the meantime, Seven West Media’s board has authorised the release of these announcements to the Australian Securities Exchange, and the company remains committed to transparency and shareholder value throughout the process.
