Seven West Media shareholders approve scheme to merge with Southern Cross Media – Seven West Media Limited (ASX: SWM) provides the following update on the proposed acquisition of SWM by Southern Cross Media Group Limited (ASX: SXL) (Southern Cross) by way of scheme of arrangement (Scheme).
Results of Scheme Meeting
In accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act 2001 (Cth), SWM advises that the resolution to approve the Scheme (Scheme Resolution) set out in the Notice of Meeting included in the Scheme Booklet dated 12 November 2025, was passed by the requisite majorities of SWM shareholders at the Scheme Meeting.
In summary:
- 88.34% of SWM shareholders present and voting (in person or by proxy, attorney or corporate representative) voted in favour of the Scheme Resolution; and
- 99.36% of the votes cast by SWM shareholders were in favour of the Scheme Resolution.
Details of the valid proxies received and votes cast are set out in an attachment to this announcement.
Next Steps
The Scheme remains subject to the approval of the Supreme Court of New South Wales at the hearing scheduled for tomorrow, Tuesday 23 December 2025, at 9:15am (Sydney time), and certain other customary Scheme conditions precedent as previously announced and described in the Scheme Booklet.
If the outstanding conditions precedent are satisfied or waived (if appliable) prior to the hearing and the Court approves the Scheme, SWM proposes to lodge an office copy of the Court orders with the Australian Securities and Investments Commission (expected to be on the next business day, 24 December 2025), at which time the Scheme will become effective.
It is expected that SWM Shares will be suspended from trading on the ASX from close of trading on 24 December 2025 and the Scheme will be implemented on 7 January 2026.
Court hearing to approve the Scheme (Second Court Date) 23 December 2025
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
Seven West Media shareholders approve scheme to merge with Southern Cross Media
