Southern Cross Media Group has officially changed its name to Seven Media Group.
Speaking at its AGM yesterday, chairman Ryan Stokes said that the new identity would reflect the integration of Southern Cross Austereo and Seven West Media.
Stokes said it would leave its consumer-facing brands — including Seven, Triple M, LiSTNR — unchanged.
“The new corporate name sits above them and brings them together,” Stokes said, adding that the combining of Seven and Southern Cross would help make it the “first choice” for news, sport and local entertainment.
“Audiences have fragmented across platforms, global streaming services and digital platforms complete aggressively for the attention of Australians and for advertising dollars with a global footprint no Australian company can match on its own,” Stokes said in his address opening the AGM.
“The effective answer is scale. The scale to reach audiences across television, audio, digital and publishing and to offer customers a genuinely integrated national platform to connect with these audiences. The combination creates the only Australian media company with a leading position across all four.”
Stokes’ address continued, taking aim at “global digital platforms” which he said have “little accountability” in the areas they operate. Seven, unlike those platforms, also “pay[s] tax”.
“We compete with these platforms for attention and advertising, but on very different terms. They use their algorithms to capture Australian audiences and content without comparable contribution through tax, employment or investment in local journalism. They are not bound by the regulatory or community obligations that apply to us. That is not a level playing field and that gap widens as audiences move online,” he said.
The saga of the Seven-SCA merger has been one for the ages, with comings, goings and power struggles.
SCA’s leaders initially held sway, over the company before TV veteran Rohan Lund was brought in to become chief executive and Natalie Harvey returned to Seven to take the chief revenue officer role.
Stokes said the it had been a year of “significant” change for the business and its financial results “did not meet our expectations”.
“Nor did it deliver on the potential that we believe exists for this business,” he said.
The plan moving forward, Stokes said, was to complete the integration, become “more efficient” in its cost base and growing revenue. Lund, taking the lectern from Stokes, said he was “more confident” than ever that the new Seven would be able to meet its goals.
Lund said that Seven’s share of the TV ad market had increased from 40.4 per cent to 41.6 per cent from FY25 to FY26. national audience share also increased by a more modest 1.3 per cent to 42.5 per cent over the same period.
Its share of the audio ad market grew from 28.3 per cent in FY25 to 30 per cent in FY26. Lund said that Seven’s share of the metro 25-54 audience had increased from 35.2 per cent to 36.8 per cent and it had held the lion’s share of that market for 42 consecutive radio surveys.
However, over the course of FY26, Seven’s revenue had dropped 4.4 per cent to $1.87 billion. It added that the market had contracted by $125 million. Its total expenses were down $51 million, or 3 per cent, and its EBITDA had dropped by 15.8 per cent or 12.8 per cent depending on whether or not onerous contracts were included. The full benefit of its $150 million cost saving work is expected to be realised in FY28.
