Highlights

  • Southern Cross Media (ASX:SXL) shares traded at AUD 0.58, unchanged at the time of writing on 4 September 2026.
  • Australian communication stocks remained positive as investors assessed media consolidation and digital Revenue trends.
  • Southern Cross Media reported FY26 pro forma revenue of AUD 1.870 billion and EBITDA of AUD 200 million.
  • Investors continue to monitor Merger synergies, audio growth, television Advertising conditions and cost savings.

At the time of writing on 4 September 2026, Southern Cross Media Group Limited (ASX:SXL) shares were trading at AUD 0.58, unchanged. The movement reflects short-term market activity and investor sentiment, while daily share price changes do not necessarily indicate a change in the company’s underlying Business performance or long-term outlook.

The broader Australian market remained slightly lower, with the S&P/ASX 200 (ASX:XJO) index trading at 9,001.10 points, down 0.21% today. The broader S&P/ASX 300 (ASX:XKO) index was trading at 8,930.50 points, down 0.18% today.

Within the communication sector, the S&P/ASX 200 Communication (ASX:XTJ) index was trading at 1,591.90 points, up 0.86% today, reflecting positive sentiment across communication and media companies.

Business Overview

Southern Cross Media Group is an Australian media company operating across television, audio, publishing and digital platforms following the merger of Southern Cross Media and Seven West Media.

The group owns and operates major media Assets including the Seven Network, 7plus streaming platform, 7NEWS.com.au, Triple M and Hit radio networks, LiSTNR audio platform, and publishing assets including The West Australian and The Sunday Times.

The company’s business model combines advertising revenue, audience monetisation, digital subscriptions, content distribution and commercial partnerships. Its Earnings are influenced by advertising market conditions, audience engagement, content performance, digital adoption and operating efficiency.

Following the merger, Southern Cross Media has focused on creating a broader multi-platform media business by combining television, audio, publishing and digital assets. The strategy aims to improve scale, increase advertising opportunities and generate operational efficiencies.

Recent Company Update

In August 2026, Southern Cross Media released its FY26 results, representing the first full-year results following the merger with Seven West Media. On a pro forma basis, the company reported gross revenue of AUD 1.870 billion, down 4.5% compared with FY25. Pro forma EBITDA excluding onerous contracts was AUD 191.9 million, while EBITDA including onerous contracts was AUD 200.0 million.

The company reported pro forma net profit after tax excluding significant items of AUD 42.8 million, while reported NPAT was AUD 9.9 million. Southern Cross Media noted that weaker advertising market conditions affected revenue performance, although cost discipline and Market Share gains provided some offset.

The television division experienced pressure during FY26, with EBITDA excluding onerous contracts declining to AUD 109.6 million, reflecting weaker free-to-air advertising conditions and higher content-related costs. The company stated that market conditions reduced revenue, while Seven continued gaining audience share.

Audio was a stronger-performing segment during the year. Audio revenue increased to AUD 429.9 million, up 1.4%, supported by digital revenue growth and improved audience performance. Digital audio revenue increased 14.3%, with LiSTNR reaching 2.7 million registered users, up 12.5%.

Southern Cross Media highlighted that digital growth in audio exceeded the decline in broadcast revenue for the first time, reflecting changing audience behaviour and increasing importance of digital media platforms.

The company reported progress on its financial reset program, delivering AUD 30 million in annualised merger synergies ahead of schedule. Southern Cross Media also launched an expanded savings program targeting AUD 145 million to AUD 150 million in annualised savings.

The company refinanced borrowings from Southern Cross Media and Seven West Media into a single AUD 569 million facility, with first Maturity in FY30. The refinancing formed part of efforts to simplify the Capital Structure following the merger.

Southern Cross Media also highlighted strengthened audience positions, including being the number one national television network and number one audio network based on audience measures. Revenue share increased across television and audio during FY26.

Investor Focus Areas

For investors following Southern Cross Media, merger integration remains a key consideration. The company is focused on capturing synergies, simplifying operations and improving efficiency following the combination with Seven West Media.

Advertising market recovery is another important factor. Television advertising remained under pressure during FY26, making future improvement in Marketing expenditure an important driver for earnings.

Audio performance has become a significant area of focus. Growth across Triple M, Hit and LiSTNR demonstrates the company’s ability to expand beyond traditional broadcasting.

Digital transformation remains central to the company’s strategy. Increasing digital revenue through streaming, podcasts and online platforms is important as audience consumption continues changing.

The 7plus streaming platform provides an opportunity to capture growing Demand for digital video content and improve audience monetisation.

Cost efficiency is another major theme. The expanded savings program is expected to support future profitability, although execution remains important.

Content Investment continues to influence performance. Premium sports, entertainment and news content are essential for maintaining audience engagement across platforms.

Competition remains significant across television, streaming, radio and digital advertising markets. Southern Cross Media competes with traditional broadcasters, global streaming platforms and digital media providers.

Capital management remains another consideration. Debt reduction, Cash Flow generation and investment priorities will influence future financial flexibility.

Share Price Movement Perspective

The movement in Southern Cross Media’s share price at the time of writing on 4 September 2026 reflects current market activity rather than a complete assessment of the company’s fundamentals.

Media companies can experience daily share price movements due to advertising trends, audience performance, industry changes and investor expectations. A single Trading session does not necessarily indicate a change in long-term business performance.

For Southern Cross Media, investors generally assess factors including merger execution, advertising recovery, digital growth, cost savings and content strategy.

Final Takeaway

Southern Cross Media (ASX:SXL) is undergoing a major transformation following the merger of Southern Cross Media and Seven West Media, creating a broader media platform across television, audio, publishing and digital channels. While shares were unchanged at the time of writing on 4 September 2026, investors continue to evaluate the company through merger execution, advertising recovery and digital expansion.

FY26 results highlighted challenges in television advertising but also showed progress in audio growth, digital expansion and cost efficiencies, which remain important factors shaping the company’s future outlook.