Seven West Media Faces Shareholder Remuneration Revolt
Seven West Media, chaired by Kerry Stokes, encountered a major shareholder uprising during its annual general meeting in Sydney on Thursday. Over 35 percent of shareholders cast votes against the company’s 2025 remuneration report.
The rebuke came even though executives did not receive bonuses, as the company failed to meet its financial targets for the previous year. The outcome reflected growing dissatisfaction among investors over the media group’s performance.
Financial Struggles and Market Challenges
Seven West Media remains a leading Australian conglomerate with interests spanning television, publishing, and digital platforms. Stokes, who may have presided over his final AGM before the proposed Southern Cross Media merger, addressed investor frustrations about declining returns.
He noted that the company had been forced to contend with “very large international companies stealing all our revenue.”
Stokes admitted that the media landscape had become increasingly competitive, significantly affecting the company’s profitability and growth outlook.
Investor Concerns
During the meeting, one shareholder voiced deep disappointment over the collapse in share value, stating their investment had shrunk dramatically—from $1 million down to just $27,000. The investor called on the board to restore dividend distributions as a gesture of accountability to long-term shareholders.
Summary
At its Sydney AGM, Seven West Media faced major shareholder backlash over executive pay and poor performance, underscoring investor angst amid growing competitive pressures.