Court approves Scheme of Arrangement for Seven West Media to merge with Southern Cross Media – Seven West Media Limited (ASX: SWM) announces that the Supreme Court of New South Wales (Court) has today made orders approving the proposed acquisition of SWM by Southern Cross Media Group Limited (ASX: SXL) (Southern Cross) by way of scheme of arrangement (Scheme).
SWM expects to lodge an office copy of the orders of the Court with the Australian Securities and Investment Commission (ASIC) on Wednesday, 24 December 2025, at which time the Scheme will become effective. SWM will also request that the quotation of SWM shares on the ASX be suspended from the close of trading on Wednesday, 24 December 2025.
Subject to the Scheme becoming legally effective, on the Implementation Date (expected to be 7 January 2026), SWM shareholders will receive 0.1552 Southern Cross Shares for each SWM share they hold at 7:00pm (Sydney time) on 30 December 2025.
An indicative timetable of the key milestones remaining under the Scheme is set out below*:
Effective Date 24 December 2025
Court order lodged with ASIC and announcement to ASX
Last day of trading in SWM Shares – SWM Shares will be suspended from trading on ASX from close of trading
New Southern Cross Shares commence trading on ASX 29 December 2025
on a deferred settlement basis
Scheme Record Date (for determining entitlements to Scheme Consideration) 7:00pm (Sydney time),
30 December 2025
Implementation Date 7 January 2026
Provision of Scheme Consideration
New Southern Cross Shares trading commences on an ordinary settlement 8 January 2026
basis and expected despatch of holding statements
All times and dates in the above timetable are references to the time and date in Sydney, Australia and all such times and dates are subject to change.
Certain times and dates are conditional on the approval of the Scheme by SWM Shareholders, regulatory authorities and by the Court. Any changes will be announced by SWM to the ASX.
This announcement has been authorised to be given to ASX by the Managing Director & CEO of
Seven West Media.
Media Release – ACMA
Link to ACMA HERE
TV Central ACMA content HERE
Court approves Scheme of Arrangement for Seven West Media to merge with Southern Cross Media
