Seven West Media Faces Shareholder Revolt Over Remuneration Report
At its annual general meeting in Sydney, Seven West Media, headed by Kerry Stokes, faced a strong shareholder backlash. Over 35% of shareholders voted against the company's 2025 remuneration report despite no bonuses being paid out, as key financial targets were not met in the past year.
Challenges Highlighted by Chairman Kerry Stokes
Kerry Stokes, who may be overseeing his final AGM as chairman due to a proposed acquisition by Southern Cross Media, addressed the concerns raised by shareholders. He highlighted the fierce competition affecting the company’s revenues:
“Very large international companies stealing all our revenue.”
Stokes acknowledged the tough market conditions and their impact on Seven West Media’s financial results.
Shareholder Concerns on Investment Losses and Dividends
One shareholder expressed deep frustration about the steep decline in the value of their investment, which fell dramatically from $1 million to $27,000. The shareholder urged the company’s board to reinstate dividend payments to shareholders.
About Seven West Media
Seven West Media is a major Australian media company with diverse assets spanning television, publishing, and digital media.
“The company had faced considerable challenges due to competition.”
Author’s summary: Seven West Media’s AGM exposed serious shareholder dissatisfaction over remuneration and financial performance amid ongoing competitive pressures.