Gabriel Radzyminski, founder of Sandon Capital and the largest shareholder in Southern Cross Austereo (SCA), has strongly criticised the proposed merger with Seven West Media. Radzyminski described the merger as “clutching defeat from the jaws of victory,” expressing concerns about the strategic direction being pursued. Southern Cross Austereo is a major Australian media company that operates radio networks like Triple M and Hit. Seven West Media is one of Australia’s leading media companies, with assets in broadcast television and newspapers.
Radzyminski specifically called out Austereo management for pursuing the deal, arguing that the company’s radio assets represent the strongest segment of traditional media, while print and television face greater challenges. He suggested that SCA should reconsider its approach, advising a more deliberate and thoughtful strategy instead of rushing into the merger. The activist investor holds a 22 per cent stake in Southern Cross Austereo, according to Bloomberg data.
The proposed merger would combine Seven Network, West Australian Newspapers, and the Triple M and Hit radio networks into a single consolidated entity. This consolidation comes at a time when traditional media companies are facing increasing pressure from global tech giants and streaming services.
Adding another layer to the situation, Kerry Stokes has stated that he would step down as chairman of Seven West Media if the merger with Southern Cross Austereo is successfully completed. The merger remains a significant point of discussion and contention within the Australian media landscape.
