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Southern Cross Media Group Limited (ASX:SXL)

ALERT: Price-sensitive ASX Announcement for SXL
Current share price for SXL : $0.545 -0.255 (-31.88%)+
Announcement
Release
7 Jan 2026 12:32PM
Price at Release
$0.800
Full Release
download
Summary
Southern Cross Media Group Limited (ASX:SXL) announced the successful implementation of a Scheme of Arrangement to acquire Seven West Media Limited, resulting in Southern Cross holding all issued shares in Seven. As part of the scheme, Seven shareholders received 0.1552 Southern Cross shares for each Seven share they held. New Southern Cross shares will commence trading on 8 January 2026. There were significant changes to the Southern Cross board and management: Jeff Howard was appointed Managing Director & CEO, and John Kelly transitioned to the role of Southern Cross Group Managing Director, Audio. Kerry Stokes AC was appointed Interim Chair of the Board. Other appointments included Ryan Stokes AO, Michael Malone, and Teresa Dyson as Non-Executive Directors, with Kerry Stokes AC set to step down in February 2026, transferring the Chair role to Heith Mackay-Cruise.
Key Points
  • Southern Cross Media Group Limited implemented a Scheme of Arrangement to acquire Seven West Media Limited.
  • Seven shareholders received the scheme consideration of 0.1552 Southern Cross shares for each Seven share.
  • New Southern Cross shares will begin trading on 8 January 2026.
  • Jeff Howard assumes the role of Managing Director & CEO.
  • John Kelly becomes Southern Cross Group Managing Director, Audio.
  • Kerry Stokes AC appointed as Interim Chair, with a planned transition to Heith Mackay-Cruise in February 2026.
  • Michael Malone and Teresa Dyson appointed as Non-Executive Directors.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.