The Australian Securities and Investments Commission (ASIC) has opened an inquiry into Southern Cross Media’s proposed acquisition of Seven West Media, which would create an A$400 million media group.
The ACCC has invited submissions from interested parties regarding the proposed acquisition by 2 pm AEST on 29 October 2025.
Under the deal, Seven West Media shareholders would receive 0.1552 Southern Cross shares for every share they hold, giving Southern Cross 50.1% of the combined entity, with interests across television, radio and newspapers
In a statement, the corporate regulator said Southern Cross and Seven overlapped in the supply and acquisition of audio, audiovisual, news and current affairs content.
"Southern Cross and Seven also overlap in the acquisition of content from content providers.
"These overlaps occur nationally, in each state and in certain local areas within each state."
The ACCC was seeking views on:
- how closely Southern Cross and Seven’s media platforms compete in the supply of content to consumers and the supply of advertising space to advertisers
- the impact on choice and volume or range of entertainment, sport, news and information available to consumers due to a reduction in competition
- whether any particular areas would be affected by competition changes, particularly in regional Western Australia, where Seven’s Western Australian Newspapers and Southern Cross’ broadcast radio stations are two players.
Southern Cross owns the Southern Cross Austereo radio network, including the Triple M, HIT and LiSTNR brands and provides sales representation to regional radio stations through agreements with seven radio networks and a joint venture.
Seven West owns the Seven television network, 7plus online platform, the West Australian, Sunday Times and online newspapers 7NEWS.com.au, The Nightly, PerthNow, thewest.com.au, 11 suburban newspapers and 19 regional publications.
The ACCC asked for submissions to [email protected] with the title: "Submission re: Southern Cross / Seven".
At the time of writing Seven West Media (ASX: SWM) shares were trading 0.5 cents (3.57%) lower at 14 cents, capitalising the company at $204.07 million, while Southern Cross (ASX: SXL) shares were up 2.5 cents (3.03%) at 85 cents, implying a value of $205.11 million.
