Kerry Stokes Bids Farewell to Shareholders as SWM Speeds Up Cuts
Kerry Stokes, while remaining chairman for another three months, said goodbye to shareholders at Seven West Media’s final annual general meeting before merging with Southern Cross Austereo. He confirmed that although he will step down in February, his son Ryan will stay on the new board, maintaining the family’s indirect involvement in the company.
Ownership and Future Role
Stokes currently holds just under 51% of Seven Group Holdings, which owns over 40% of Seven West Media. Post-merger, this stake is expected to decrease to about 20%, but the 85-year-old will continue to follow the company's progress closely.
Comments on AFL and Ratings
“We expect the poor scheduling from the AFL this year will be rectified in the coming season to help deliver even stronger audiences for our suite of live sport.”
In a rare critique, Stokes suggested that this season’s weak ratings were partly due to the AFL's scheduling, implying it affected Seven West Media’s sports viewership.
Shareholders’ Mixed Feelings
Despite Stokes’s departure, some shareholders remain less than fully appreciative, remembering how the share price soared only to decline afterward.
More News
- Congress gridlocked on key issues as year-end deadline looms
- Women’s Big Bash League 2025-26 results
- Tartan Army set for ‘big bash’ in Boston with two games in New England
- Flight Booking, Cheap Flights, Air Tickets at Lowest Fare
- PREDICTED TEAM: How Scorchers will line up for BBL opener
- Tunbridge Wells gridlocked as residents queue for fresh water after five-day outage
- Après la tentative de coup d'Etat au Bénin, la menace du pouvoir kaki plus présente que jamais en Afrique
- Heavy rain gridlocks KL traffic
- Breaking: Loyalist troops foil coup attempt in Benin
- Cheap Domestic Flights in United States of America