Aug 20, 2026 – 6.58pmA billionaire businessman’s shopping spree at Southern Cross Media certainly had the notoriously gossipy media industry talking. This column revealed it was none other than Kerry Stokes who swooped on a 3 per cent stake in the broadcasting and publishing business behind the Seven Network, the Triple M and Hit radio brands and The West Australian.But who was selling down? It’s a share register stocked with interesting names from Bruce McWilliam, Stokes’ one-time lieutenant who is now backed by another billionaire, Gina Rinehart, along with Alex Waislitz and Antony Catalano. Then there are funds including Samuel Terry Asset Management, Sandon Capital and Spheria Asset Management.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Eyes on ARN Media as Stokes lifts stake in Southern Cross
It was at ARN that fingers were pointing as investors worked out who was selling out of Southern Cross’ register.
TL;DRAI
Kerry Stokes acquired 3% stake in Southern Cross Media (Seven Network, Triple M, Hit radio, The West Australian). Consolidation move by major investor—track M&A trends and tech implications in Australian broadcasting and media infrastructure.
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