TLDR
Southern Cross Media Group became Seven Media Group Limited after a 97.56% shareholder vote at the 5 November 2026 AGM; the ASX ticker flips from SXL to SMG at Tuesday's open. FY26 EBITDA of $200 million on $1.87 billion revenue did not meet the board's expectations, chair Ryan Stokes said, with Q1 FY27 TV revenue down in a soft market and Google news payments reduced.
KEY TAKEAWAYS
The vote and what changes on Tuesday
Southern Cross Media Group Limited shareholders voted to change the company's name at its annual general meeting in Eveleigh on 5 November 2026. The special resolution to rename the company Seven Media Group Limited passed with 97.56% of votes cast, and the constitution was updated the same day.[1] The Australian Securities Exchange (ASX) ticker changes from SXL to SMG from the open of trading on Tuesday 10 November 2026.[1]
Chair Ryan Stokes told investors the rebrand stays strictly at the corporate level. Triple M, LiSTNR, Seven, 7plus, 7NEWS, The West Australian, The Nightly and PerthNow all keep their own names and audience identities, with the new corporate name sitting above them.[2]
Prompt the Market covered the name being put to shareholder vote on 7 October 2026, when the merger of Seven West Media and Southern Cross Austereo was taking shape as a combined TV, audio, publishing and digital group.
The financial picture behind the new name
Chair Ryan Stokes told shareholders the financial result for the year "did not meet our expectations" and did not deliver on the potential the board believes exists in the business.[2] FY26 revenue came in at $1.87 billion with earnings before interest, tax, depreciation and amortisation (EBITDA) of $200 million.[2]
Q1 FY27 television revenue tracked down against a television advertising market running mid-single digits below the prior year, with lower Google news payments adding to the pressure.[2] The group's share of the television advertising market improved from 40.4% in FY25 to 41.6% in FY26, and its share of the audio advertising market moved from 28.3% to 30.0% across the same period.[2]
Managing director and chief executive Rohan Lund pointed to a $150 million cost reduction program as the structural response, with the full benefit projected for FY28 and management telling shareholders it expects to exceed that target.[2]
Governance and the market's reaction
A shareholder motion to remove director Marina Go attracted 24.71% support at the AGM, well short of a majority, while Stephen Mayne polled 2.87% as a candidate not endorsed by the board. Go was ultimately re-elected with 75.58% of votes cast.[3]
Shares fell 2.94% on the day, Mumbrella reported. Investor David Kingston asked the board why the stock trades at less than half the equity value that merger analyst Kroll indicated for the merged company a year ago.[6] The SMG ticker begins trading at Tuesday's open on 10 November 2026.
SOURCES & CITATIONS
- Seven Media Group AGM page
- ASX disclosure: Change of company name, ticker code and updated constitution (5 Nov 2026)
- ASX disclosure: AGM poll results (5 Nov 2026)
- ASX disclosure: AGM addresses and trading update (5 Nov 2026)
- Prompt the Market: Southern Cross puts Seven Media Group name to shareholder vote (7 Oct 2026)
- Mumbrella, Newly renamed Seven dips as Unmade Index rises
- B&T, Southern Cross Media Group is dead, long live Seven Media Group
FREQUENTLY ASKED QUESTIONS
When does the ASX ticker change from SXL to SMG?
Do the consumer brands like Triple M, Seven and LiSTNR change their names?
What were Seven Media Group's FY26 financial results?
James Dore is founder and editor of Prompt the Market and Strategy Director at Bushnote, a Sydney strategy, SEO and AI search agency. He has a background in strategy, media and financial services, and led consumer product marketing at MONEYME. He writes on AI search, answer engines, technology policy and media economics.
