Seven West Media (ASX: SWM) has entered into a binding agreement to buy the television licences and associated assets of Southern Cross Media (ASX: SXL) in Tasmania, Darwin, Spencer Gulf, Broken Hill, Mt Isa. The acquisition will also include licences and assets in remote, central and eastern Australia, Seven West Media said.

The licences currently broadcast the Seven Network television signal in each market under our current affiliation agreement with Southern Cross Media.

The acquisition largely completes Seven West’s national broadcast network and opens new markets to Seven where the powerful offering of digital television – both live and VOD – on 7plus complements the Seven broadcast signal.

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The deal will see $3.75 million cash paid on completion and the transaction will be immediately earnings accretive in fiscal 2026. The acquisition is expected to be completed by June 30.

SWM managing director and chief executive Jeff Howard, said: “The acquisition of these television licenses is another positive step in SWM’s strategic transformation program.

“Seven is Australia’s largest commercial, free to air broadcaster and we are excited by the opportunity to further leverage our leading news, sport and entertainment content in these new markets, across both Seven and 7plus to drive incremental revenue, earnings and cash flow.

“Following this acquisition, Seven will reach almost 100% of Australia’s population [ex-Riverland]. With the successful launch of our Phoenix total television platform, our valued advertising partners and media buyers will be able to seamlessly reach and target these new and attractive audiences across both broadcast and digital campaigns,” he said.

Seven West is one of Australia’s most prominent media companies, reaching more than 19 million people a month with a market-leading presence in content production across broadcast television, publishing and digital.

The company owns some of Australia’s most renowned media businesses, including the Seven Network and its affiliate channels 7two, 7mate, 7flix and 7Bravo; the digital platform 7plus; www.20304050.best; The West Australian; The Sunday Times; PerthNow; The Nightly; and Streamer.

The Seven Network is home to Australia’s most loved news, sport and entertainment programming, including 7NEWS, 7NEWS Spotlight, Sunrise, The Morning Show, The Voice, Home and Away, Australian Idol, My Kitchen Rules, SAS Australia, Farmer Wants A Wife, The Chase Australia, Better Homes and Gardens, RFDS, The 1% Club and the TV WEEK Logie Awards.

Seven Network is also the broadcast partner of the AFL, Cricket Australia and Supercars.