Kerry Stokes says goodbye to his shareholders as SWM accelerates its cuts

Kerry Stokes Bids Farewell to Shareholders as SWM Speeds Up Cuts

Although Kerry Stokes will remain chairman for three more months, he said goodbye to shareholders today at Seven West Media’s (SWM) final annual general meeting before its merger with Southern Cross Austereo.

Stokes assured attendees that while he will step down in February, his son Ryan will continue serving on the new board, maintaining the family’s indirect involvement in the business.

Stokes' Ownership and Influence

Currently, Stokes holds just under 51% of Seven Group Holdings, which owns over 40% of Seven West Media. Following the merger, his effective stake will decrease to around 20%.

Comments on AFL and Ratings

On his way out, Stokes expressed criticism of Seven’s longtime sports partner, the Australian Football League (AFL), attributing this season’s soft ratings to their scheduling.

“We expect the poor scheduling from the AFL this year will be rectified in the coming season to help deliver even stronger audiences for our suite of live sport.”

Despite his departure, Stokes' tenure saw the share price rise and then decline, leaving mixed feelings among shareholders.

Summary

Kerry Stokes is stepping down as chairman after SWM’s merger, ensuring his family stays involved while calling for improvements in AFL scheduling to boost sports viewership.

Author's Conclusion

Kerry Stokes leaves a lasting legacy at Seven West Media while urging changes to AFL scheduling that impact broadcast ratings, as his family remains invested in the company’s future.

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Mumbrella Mumbrella — 2025-11-06

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