Southern Cross proposes Seven Media Group name change

Southern Cross Media Group is seeking shareholder approval to change its name to Seven Media Group Limited, with the proposed corporate rebrand also replacing its ASX listing code from SXL to SMG.

The proposal will be put to shareholders at the company’s annual general meeting on 5 November, following the merger of Southern Cross Media Group and Seven West Media.

In its AGM notice lodged with the ASX on 2 October, the board said the Seven Media Group name would better represent the combined business across television, audio, publishing and digital.

The group’s portfolio includes the Seven Network, 7plus, the Hit and Triple M radio networks, LiSTNR, The Nightly, The West Australian, The Sunday Times and PerthNow.

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A new name for the combined business

The board unanimously recommends shareholders support the resolution, arguing the proposed name would provide a clearer identity for the enlarged group.

“The proposed name maintains a strong connection to the group’s heritage while orienting it towards its future as a multi-platform diversified media group,” the notice states.

“It is immediately legible to consumers, advertisers and investors; internally and externally consistent with the group’s principal operating brands; and communicates the scale and scope of the group with precision and clarity.”

The proposed ASX ticker change would occur alongside the corporate name change.

“The name change is proposed to occur concurrently with an ASX listing code change from ‘SXL’ to ‘SMG’, providing a stronger linkage between the business and the market, and a clearer association for shareholders,” the notice states.

Shareholders to decide in November

The proposal requires a special resolution, with at least 75% of votes cast supporting the change. Shareholders will also be asked to approve amendments to the company’s constitution to reflect the new name.

The company has reserved the proposed name. If shareholders approve the resolution, it will lodge the required documents with the Australian Securities and Investments Commission.

The name change will take effect when ASIC updates the company’s registration details. The company will then announce the ASX ticker change and release its updated constitution.

The AGM will be held in Eveleigh, Sydney, on 5 November at 11am AEDT.