Not sure if I can do this, but
Seven West Media and SCA have proposed a merger to “create a leading integrated Total TV, Audio and Digital platform”.
ASX Announcement:
The combined group will target the core 25–54 demographic, offering what both sides are calling a “one stop shop” for advertisers.
The merger will see SWM shareholders receive 0.1552 SCA shares for each SWM share, resulting in a near-even ownership split – 49.9% to SWM investors and 50.1% to SCA shareholders. Both boards have signed off, with Kerry Stokes AC confirming SWM’s unanimous support.
“The combination of these two companies brings together the best creators of media content in the country, delivering significant financial and strategic benefits for SWM shareholders,” Stokes said.
“This is an important merger, as the combined company will be better able to serve both metropolitan and regional viewers, listeners, partners and advertisers.”
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And just when SCA thought they got rid of those pesky TV stations… 
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The merger will be completed early next year after going through all the usual steps.
It’s a step-up from the previous regional TV takeover deal.
So now what? Can I look forward to Hit Network news bulletins read by 7News hosts, something like that?
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Is there a legacy junk stock Kerry isn’t interested in?
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SCA has been scraping itself for years with poor management and Seven has needed more scale. Should be a great combination.
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And here I was naively thinking SCA could happily exist as a standalone audio company…
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Maybe the news bulletins would be branded as 7 News? Like Nine does on their stations?
Are many of the regional stations going to have to be sold off?
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A lot, if not all of the Regional WA radio stations would have to be sold off.
Here’s an interesting ‘full-circle’ scenario with this merger: it would mean that Seven would own the two Central Coast radio stations again after having owned it during the first half of 1996 after they acquired Sunshine (who owned 2GO & Coast Rock). Due to the media ownership rules in place at that time, Seven had to sell the two radio stations to RG Capital, as they own a TV licence within the region.
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Kerry really picking up the dregs here. Even with this merger SWM is in remarkably poor shape compared to Nine.
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Will ARN and/or Super Radio Network be interested in buying these regional WA stations?
something hidden in the detail - Kerry intends to stand down from the board after 2026
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It’ll happen in February 2026 (assuming the merger doesn’t hit any hurdles).
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It’s a merger of two equals in terms of their control of their mediums. Listnr is a great future product to put 7News all over and Home & Away podcasts etc etc.
Talent across both businesses would work well too. It’s a win-win.
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So SCA made a big song and dance about exiting TV and being all about audio. Now they are back in the TV business including some outlets they’ve literally just disposed of. 
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I think this is more 7W getting into radio than SCA getting into TV again.
SCA will be a thing of the past soon enough.
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Here’s a merger presentation with some nice charts: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03000442-3A677465&v=c2533a54e2514fb77a8f93f84db686e1125273e9
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Well he is getting on a bit. He’s no Bruce Gordon.
From the looks of things, it’s SCA leading the way through the merger, as SCA would be acquiring all outstanding shares in SWM, and their shareholders owning 50.1% of the merged company.
As for names, can I suggest something less stupid than Versiant?
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We have the first reaction.
But the deal faces critics from the outset. Sandon Capital managing director Gabriel Radzyminski, who has been building a significant stake in Southern Cross – to currently own 11.3% – criticised the consolidation rationale for the deal, which hooks growing radio and audio brands into declining free-to-air television stations.
“How the Southern Cross board could [think] this is a good idea beggars belief,” he told The Australian Financial Review on Tuesday morning. “This deal risks being incredibly value-destructive for Southern Cross shareholders. This epitomises Peter Lynch’s expression of ‘diworsification’.”
The two stocks rally in early trading. (Source: CBOE)
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