At a glance
- Company
- Seven West Media
- Ticker
- ASX: SWM
- Announcement
- Acquisition
- Location
- Australia
Key figures
- Cash consideration
- $3.75 million
- Expected population reach after acquisition
- almost 100% of Australia’s population [exRiverland]
People
- Jeff HowardManaging Director and Chief Executive Officer
Products and programs
May 6, 2025 -- Seven West Media (ASX: SWM) today announced that it has entered into a binding agreement with Southern Cross Media Group Limited (ASX: SXL) to acquire the television licences and associated assets operating in Tasmania, Darwin, Spencer Gulf, Broken Hill, Mt Isa and Remote, Central and Eastern Australia.
These licences currently broadcast the Seven Network television signal in each market under our current Affiliation Agreement with SXL.
The acquisition largely completes SWM’s national broadcast network and opens new markets to Seven where the powerful offering of digital television – both live and VOD – on 7plus complements the Seven broadcast signal.
Consideration of $3.75 million cash will be paid on completion and the transaction will be immediately earnings accretive in FY26. Completion of the transaction is expected by 30 June 2025.
SWM Managing Director and Chief Executive Officer, Jeff Howard, said: “The acquisition of these television licenses is another positive step in SWM’s strategic transformation program.
“Seven is Australia’s largest commercial free-to-air broadcaster and we are excited by the opportunity to further leverage our leading news, sport and entertainment content in these new markets, across both Seven and 7plus to drive incremental revenue, earnings and cash flow.
“Following this acquisition, Seven will reach almost 100% of Australia’s population [exRiverland]. With the successful launch of our Phoenix total television platform, our valued advertising partners and media buyers will be able to seamlessly reach and target these new and attractive audiences across both broadcast and digital campaigns,” he said.
This release has been authorised to be given to the ASX by the Board of SWM.
For further information please contact:
Investors / Analysts:
Craig Haskins
[email protected]
02 8777 7277
Media:
Kaycie Bradford
[email protected]
0400 002 664
About Seven West Media
Seven West Media (ASX: SWM) is one of Australia’s most prominent media companies, reaching more than 19 million people a month with a market-leading presence in content production across broadcast television, publishing and digital.
The company owns some of Australia’s most renowned media businesses, including the Seven Network and its affiliate channels 7two, 7mate, 7flix and 7Bravo; the digital platform 7plus; 7NEWS.com.au; The West Australian; The Sunday Times; PerthNow; The Nightly; and Streamer. The Seven Network is home to Australia’s most loved news, sport and entertainment programming, including 7NEWS, 7NEWS Spotlight, Sunrise, The Morning Show, The Voice, Home and Away, Australian Idol, My Kitchen Rules, SAS Australia, Farmer Wants A Wife, The Chase Australia, Better Homes and Gardens, RFDS, The 1% Club and the TV WEEK Logie Awards. Seven Network is also the broadcast partner of the AFL, Cricket Australia and Supercars.
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In brief
Seven West Media says it has agreed to acquire Southern Cross Media Group’s television licences and related assets in Tasmania, Darwin, Spencer Gulf, Broken Hill, Mt Isa, and Remote, Central and Eastern Australia. The licences currently carry the Seven Network signal under an affiliation agreement. Seven West Media will pay $3.75 million in cash at completion, which the company expects by 30 June 2025. It says the deal will complete much of its national broadcast network and extend Seven and 7plus offerings into the markets. The company expects the transaction to be earnings accretive in FY26. Managing Director and CEO Jeff Howard described the acquisition as part of the company’s strategic transformation program and said Seven would reach almost 100% of Australia’s population, excluding Riverland, after the transaction.
Key takeaways
- Seven West Media has agreed to buy Southern Cross Media Group television licences and associated assets in several Australian markets.
- The agreed cash consideration is $3.75 million, payable on completion.
- Completion is expected by 30 June 2025, and the company expects the deal to be earnings accretive in FY26.
- Seven West Media says the acquisition will extend Seven and 7plus coverage and take population reach to almost 100%, excluding Riverland.
