Australia's Last Media Mogul Steps Back
After nearly 50 years, Kerry Stokes, Australia's last media titan, chaired his final AGM for Seven West Media. At 85, he announced he will step away from the role early next year but remains steadfast in defending free television for the public.
Criticism of Streaming Giants
During the meeting, Stokes took aim at Netflix and other streaming platforms for their tax practices.
“They’ve taken out last year some $6 billion in revenue. They take the advertising and there’s no tax on it. And these people will go on until there’s nothing left,”
He emphasized the need for industry protection as Seven plans to merge with the radio powerhouse behind Triple M and Hit Networks.
From Humble Beginnings to Media Powerhouse
Stokes is widely regarded as the last mogul standing following Kerry Packer’s death and Rupert Murdoch’s retirement. Dyslexic and once impoverished, he rose from a TV aerial installer to a billionaire network owner over 47 years since his initial investment in Seven.
“Oh, um, I got lucky,”
he modestly remarked on his success.
Enduring Commitment
Despite the obstacles, Stokes’s dedication remains clear.
“I love the fact that regardless of the headaches, we produce for the Australian public quality news, quality sports coverage and good entertainment.”
Looking Ahead
Stokes is preparing to step back, not retire, ensuring his influence continues as the media landscape evolves.
Author's summary: Kerry Stokes ends his long tenure at Seven West Media but vows to continue fighting for accessible, quality free TV amid challenges from streaming giants and industry changes.