Herbert Smith Freehills Kramer advises Seven West Media on its combination with Southern Cross Media Group

Herbert Smith Freehills Kramer (HSF Kramer) is pleased to be advising Seven West Media Limited (ASX: SWM) (Seven) on its proposed combination with Southern Cross Media Group Limited (ASX: SXL) (Southern Cross).

Seven announced that it has entered into a scheme implementation deed with Southern Cross for the acquisition by Southern Cross of 100% of Seven shares, by way of a scheme of arrangement. If implemented, Seven shareholders will receive shares in Southern Cross as consideration under the scheme, resulting in Seven shareholders holding 49.9% of the combined group.

Seven is a leading Australian integrated media company, reaching more than 19 million people a month with a market-leading presence across broadcast television, publishing and digital. Its combination with Southern Cross will establish a leading integrated national media company with extensive scale and reach across broadcast, audio and digital platforms.

This combination marks a pivotal moment for Australian media by creating one of Australia’s leading Total TV, Audio and Digital platforms, with the scale, reach and diversification to better serve Australian audiences and communities. The combined business will be strongly positioned to attract and grow high value audiences.

The HSF Kramer team advising Seven is led by Chair and Senior Partner Rebecca Maslen-Stannage and partner Linda Evans, supported by senior associates Samuel Moran and Elizabeth Hersey, and solicitors Alice Barber and Caitlin Yan.

Rebecca Maslen-Stannage said, “We have worked closely with the Seven team over a number of years and are proud to support them on this significant transaction, which marks an exciting moment for Australian media. It is a pleasure to work with the outstanding and passionate Seven team to get to this milestone, and we look forward to continuing to support them as they complete this exciting next step.”