Seven West claims largest regional commercial TV broadcaster title
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The news: Seven West Media claims to be the largest regional commercial television broadcaster in Australia after completing an acquisition of Southern Cross Media Group’s television licenses and associated assets across several regional areas.
The numbers: As announced in May, Seven West acquired Southern Cross’ assets operating in Tasmania, Darwin, Spencer Gulf, Broken Hill, Mt Isa, and Remote, Central and Eastern Australia for $3.75 million.
The acquisition will be immediately earnings accretive for Seven West in financial year 2026.
At 11:16am AEST shares in Seven West had lifted 3.5% to $0.15 while shares in Southern Cross were flat.
The context: When including the sale of the three aggregated TV licenses to Network Ten, Southern Cross Media said in a statement that it had sold off all former television assets.
The company also announced that board director Carole Campbell will retire on 31 August 2025. She joined the board in 2020 and has led the audit and risk committee.
What they said: “With the successful divestment of our regional TV assets, our entire strategic focus is now All About Audio. This clarity is already delivering results,” Southern Cross chief executive John Kelly said.
“As our share of audio revenue grows, we remain disciplined on costs and are committed to giving advertisers unmatched access to the ‘Audience That Matters’ - Australians aged 25 to 54.”
