Southern Cross Media Group plans to cut between 250-300 full time staff in an effort to save up to $150 million annually ahead of its financial year end on 30 June 2026.
The newly formed media group, which includes the TV and publishing business Seven West Media and audio group Southern Cross Austereo, blamed a weaker than expected TV advertising market for the deep cuts. A report in The Age suggests that the bulk of the redundancies will come from the Seven West Media side of the business.
In the latest Guideline SMI figures for April, TV media agency bookings were down by 19.2 per cent, including a 24.8 per cent drop in broadcast TV.
Seven now forecasts its FY26 TV revenues to be between $1.86 billion to $1.87 billion, missing its guidance range by 2.5 per cent. It predicts its cost base will be between $1.67 and $1.68 billion, 1.5 per cent lower than its previous guidance.
In an internal email shared with Southern Cross staff, managing director and CEO Rohan Lund said: “we need to be honest with ourselves that those markets are under immense pressure”.
“To protect and supercharge what makes this place great, we have to look at our operating environment objectively. We are navigating a demanding market, with a tightening advertising sector and global macroeconomic pressures impacting all businesses,” he added.
“To create the space we need to deliver on the scale and trust of our audio, publishing and television platforms, we have no choice but to reset the cost base. Working closely with your leadership teams, every department was included in this process to ensure our new structure successfully supports our long-term goals and protects the momentum the business is seeing to the greatest extent possible.”
It is not the first time that Southern Cross and Seven West Media have made wider cuts. In 2024 and prior to the SCA merger, Seven West Media slashed 150 roles, including former chief revenue officer Kurt Burnette, chief marketing and audience officer Mel Hopkins, and head of sport Lewis Martin. That year rivals Nine also made significant cuts ahead of its financial year end. Meanwhile in 2025, Southern Cross Austereo cut around 8 per cent of its workforce.
“This transformation involves making incredibly tough choices regarding our team structures, and we will be saying goodbye to many smart, talented, and hard-working colleagues who have played a vital role in building both businesses,” Lund added about this latest round of cuts.
“We are a better company because of their dedication, and we are committed to treating every departing team member with the respect and compassion they deserve.”
