ACCC approves merger between Seven West and Southern Cross Media

The Australian Competition and Consumer Commission has approved the merger between Seven West Media and Southern Cross Media Group, citing that it would not significantly lessen competition due to the companies operating in different media markets. The merger will create a major entity in free-to-air TV, audio, and digital publishing, with Southern Cross shareholders holding 50.1% ownership. The new board is set to begin in February, with Jeff Howard as CEO, following Kerry Stokes’ retirement as chairman. The merger reflects ongoing industry trends and challenges from digital media competition.

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