Seven West's Kerry Stokes out the door; despite TV sports dominance, the market shrugs

Seven West's Kerry Stokes Announces Departure

Kerry Stokes, the billionaire chairman of Seven West Media (ASX:SWM) based in Western Australia, has declared he is stepping down. This follows the company's recent agreement to merge with Southern Cross Media Group, supported by an independent report from Kroll Australia Pty Ltd.

Merger Deal Supported by Independent Report

The report commissioned by Southern Cross found that the merger deal is in the best interests of Southern Cross shareholders. With Seven West Media’s ‘7’ TV portfolio continuing to dominate the Australian sports broadcasting scene for the upcoming year, this conclusion seems expected.

Market Reaction and Share Price Movement

Despite these developments, Seven West Media’s share price remained stagnant on Thursday. By 1:30pm AEDT, only $7,000 worth of shares had traded intraday, reflecting a level of illiquidity comparable to small exploration mining stocks.

Investor Sentiment and Market Interest

This inactivity suggests that Seven West Media no longer attracts strong market interest. In contrast, Southern Cross Media's shares fell by 1.7% intraday to 85 cents but have enjoyed a 41% gain year-to-date.

"SWM just doesn’t have the sex appeal anymore to garner market interest."

Questions arise about Kerry Stokes’s mindset with this announcement of his exit amid these market conditions.

Summary: Kerry Stokes’s departure from Seven West Media comes as the company moves forward with a merger, yet the stagnant share price signals fading market enthusiasm despite strong TV sports dominance.

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HotCopper HotCopper — 2025-11-05

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