Kerry Stokes, the Last of the Media Moguls, Is Not Done Yet
Kerry Stokes has spent his life building a television network and newspaper publisher. At 85, during his final Seven West Media annual shareholder meeting, which lasted 48 minutes, he showed he still has plenty of energy left.
Retirement and Transition
Stokes announced he will retire and leave the board when Seven West Media merges with Southern Cross Media Group early next year. He offered an uncommon humility for a media mogul, acknowledging the value of younger leadership.
“Because I would be arrogant if I didn’t. For me to say there wasn’t anyone better than I am is arrogant.”
He also expressed confidence in his successor, Heith Mackay-Cruise, a veteran media and technology director, who will become chairman assuming no competing bids arise.
Future Role and New Company Structure
The merged entity will unite the Seven Network, The West Australian, and The Nightly with Triple M and Hit radio networks. As a 20 percent owner, Stokes will serve as an adviser but promised not to interfere with decisions.
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Summary
Kerry Stokes, after decades as a media titan, steps back with humility and optimism, ready to support new leadership while remaining an engaged adviser.