SYDNEY: Seven West Media announced Tuesday it has reached a binding agreement to acquire television licenses and associated assets from Southern Cross Media Group, expanding its national broadcast network.
The deal, valued at $3.75 million in cash, includes licenses in Tasmania, Darwin, Spencer Gulf, Broken Hill, Mt Isa, and Remote, Central and Eastern Australia. These licenses currently broadcast Seven Network programming under an existing affiliation agreement. The transaction is expected to close by June 30, 2025, and will be earnings accretive starting in fiscal year 2026.
Jeff Howard, managing director and CEO of Seven West Media, said the acquisition advances the company’s strategic growth plans. “Seven is Australia’s largest commercial free-to-air broadcaster, and this move allows us to further leverage our leading content in new markets,” Howard said. The addition will extend Seven’s reach to nearly 100% of Australia’s population, excluding the Riverland region.
The company highlighted its digital platform, Zplus, as a key complement to its broadcast offerings, providing live and video-on-demand services. Howard also noted the benefits for advertisers, citing the recently launched Phoenix total television platform as a tool for targeted campaigns across broadcast and digital audiences.
Seven West Media owns major Australian media brands, including the Seven Network, 7plus, and The West Australian, and produces popular programs such as “Home and Away,” “Sunrise,” and the TV WEEK Logic Awards.