Ryan Stokes takes reins as Southern Cross Media chair

Ryan Stokes has taken over as chair of Southern Cross Media, further entrenching the Stokes family’s grip on Australia’s largest media business.

The recently-merged business on Monday announced Mr Stokes, chief executive of industrials conglomerate SGH, would take over immediately from Teresa Dyson, who stepped down but will remain on the board.

Mr Stokes, a director of Southern Cross since its $400 million tie-up with Seven West Media late last year, said the company’s outstanding brands presented a clear opportunity for the company.

Southern Cross Media owns Seven, the nation’s no.1 TV station, the influential The West Australian newspaper group, leading digital assets The Nightly, The Game and PerthNow as well as audio streamer Listnr and the Triple M and Hit radio network.

“The role we play to engage, inform and entertain our audiences, and to connect them with our customers, remains essential to the communities we serve,” Mr Stokes said in a statement.

“The board is united on building a stronger, higher-performing group and on driving returns for all shareholders.”

The announcement of the new chair comes just weeks after Kerry Stokes’ private investment arm, Australian Capital Equity, bought more than 14 million shares in Southern Cross – lifting its stake in the business by the maximum permitted 3 per cent, to 23.2 per cent.

That move signalled the return of Kerry Stokes to active media proprietorship, after initially relinquishing control of his beloved Seven West Media newspaper and television business in a merger with the radio network.

Kerry Stokes stepped down as chair in February this year, shortly after the merger took effect.

Southern Cross’ Monday statement also revealed a new lead independent director: former oOh!media CEO Cathy O’Connor, who was appointed to Southern Cross in March.

Ms O’Connor on Monday said the board was satisfied it now had the independence it needed for the phase ahead.

She added Ryan Stokes brought to the role executive and media experience “and a strong record of delivery”.

“The independent directors have put arrangements in place to preserve the board’s independence, including an elected lead independent director, majority-independent board and committees, and independent chairs of the committees,” Ms O’Connor said.

Southern Cross said its board was aligning leadership for its next phase of integration and performance, highlighting the recent appointment of Rohan Lund as chief executive and managing director.

“The board’s focus is clear, to give Rohan and the management team the strongest possible support to execute and to hold the company to delivering on that potential,” Ryan Stokes said.

Ryan Stokes has been a director of SGH, which has a 20.1 per cent holding in Southern Cross, since 2010, and is chief executive of Australian Capital Equity. Its primary investment is its interest in SGH.

SGH has bought a controlling interest in Boral of nearly 73 per cent, and owns WesTrac, one of the world’s largest CAT equipment dealers.

Ms Dyson will now chair Southern Cross’ risk, regulatory and compliance committee, which the board established for dedicated oversight of the larger group’s profiles.

“I have been pleased to guide the company through this period of transition, and I look forward to continuing to make a significant contribution on the board,” she said.

Southern Cross said it was continuing to search for additional non-executive directors.

Mr Lund last month said Southern Cross would pursue growth in digital markets following an 11 per cent rise in digital revenue to $320 million for 2025-26 financial year — the brightest spot in the company’s first results as a combined business.

“It’s a pretty big digital prize out there. It’s a $25 billion market and at the moment we’re (barely) scratching that,” he said.

He pointed to broadcasters in Europe, the US and UK that had active strategies commercialising content beyond their networks.