Australia – Seven West Media Limited (SWM) shareholders have overwhelmingly approved the company’s proposed acquisition by Southern Cross Media Group Limited through a scheme of arrangement.
At a recent stock disclosure, SWM noted that at a Scheme Meeting held recently, 88.34% of its shareholders present and voting, either in person or by proxy, supported the scheme resolution. Meanwhile, 99.36% of all votes cast were in favour of the proposal.
The scheme now awaits the approval of the Supreme Court of New South Wales at a scheduled hearing on Tuesday, 23 December 2025. If the Court grants approval and all other customary conditions precedent are satisfied or waived, SWM plans to lodge a copy of the Court orders with the Australian Securities and Investments Commission, expected on 24 December 2025.
Following the completion of these steps, SWM shares are expected to be suspended from trading on the ASX from the close of trading on 24 December 2025, with the scheme implementation anticipated on 7 January 2026.
The acquisition marks a significant move in the Australian media landscape, pending regulatory and shareholder approvals.
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