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An announcement from Southern Cross Media Group Limited ( (AU:SXL) ) is now available.
Seven West Media shareholders have overwhelmingly approved the proposed acquisition of the company by Southern Cross Media Group via a scheme of arrangement, with 88.34% of shareholders present and voting, and 99.36% of votes cast, in favour of the transaction. The deal now moves to a final court approval hearing in the Supreme Court of New South Wales, after which, subject to remaining customary conditions being met, the scheme is expected to become effective on 24 December 2025, SWM shares to be suspended from ASX trading from close that day, and implementation to occur on 7 January 2026, marking a major consolidation in the Australian media sector and setting a firm timetable for SWM investors to transition into new Southern Cross shares.
The most recent analyst rating on (AU:SXL) stock is a Hold with a A$0.79 price target. To see the full list of analyst forecasts on Southern Cross Media Group Limited stock, see the AU:SXL Stock Forecast page.
More about Southern Cross Media Group Limited
Seven West Media Limited is an Australian media company listed on the ASX that operates across television, digital and print platforms, focusing on news, entertainment and sport for national audiences and advertisers. Southern Cross Media Group Limited, also ASX‑listed, operates radio and regional television networks, positioning both businesses as major players in the Australian broadcasting and media advertising market.
YTD Price Performance: 40.98%
Average Trading Volume: 696,703
Technical Sentiment Signal: Buy
Current Market Cap: A$193.1M
See more data about SXL stock on TipRanks’ Stock Analysis page.