Oz court agrees Seven merger

Media org is combining with equipment firm

SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal.

The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings.

Stokes applauded the court’s decision. “It is excellent news that the merger can now go ahead, following court approval and the strong support of Seven shareholders last week. Our key objective for SGH will be to drive long-term shareholder value creation and to ensure the numerous growth opportunities available to the combined group are executed for the benefit of all shareholders.”

Seven shares will be suspended on April 29, returning to the market as SGH shares on May 14.

More TV

  • Arrested Development Season 5 review

    TV Review: 'Arrested Development' Season 5 on Netflix

    SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal. The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings. Stokes applauded the […]

  • Showtime Executive, Gary Garfinkle.Photo: Cliff Lipson/CBS©2012

    Gary Garfinkel, Co-Head of Content Acquisitions at Showtime, Dies at 55

    SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal. The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings. Stokes applauded the […]

  • KIM POSSIBLE - The cast of

    'Kim Possible' Disney Channel Movie Casts Its Dr. Drakken, Shego, Other Key Characters

    SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal. The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings. Stokes applauded the […]

  • Ted Danson Remote Controlled Podcast

    Remote Controlled: 'The Good Place' Star Ted Danson on His 'Delicious' Role

    SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal. The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings. Stokes applauded the […]

  • Mick Betancourt Joins Syfy's 'Deadly Class'

    Mick Betancourt Joins Syfy's 'Deadly Class' in Showrunner Switch

    SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal. The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings. Stokes applauded the […]

  • george shapiro First Time in Variety

    Veteran Talent Manager George Shapiro Looks Back on Early Career

    SYDNEY — Seven Network’s unusual merger with heavy equipment firm WesTrac has cleared the final hurdle with the Australian Federal Court approving the deal. The move will see Kerry Stokes’ WesTrac link with media org Seven Group, of which Stokes is the topper, to form the new combined entity Seven Group Holdings. Stokes applauded the […]

More From Our Brands

Access exclusive content