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Ryan Stokes’ media chess game nears checkmate

The Australian Financial Review (AFR) •
November 04, 2026 • 04:53 AM
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The mining and media mogul’s Southern Cross manoeuvring has a certain elegance about it.

Ryan Stokes’ media chess game nears checkmate

It’s been obvious to anyone with eyes how Ryan Stokes and father Kerry Stokes played Southern Cross Media for a bunch of dumb donkeys.

They convinced then-chairman Heith Mackay-Cruise last year to merge with their Seven West Media (publisher of The West Australian ) in an all-scrip transaction notionally worth $417 million. Southern Cross swallowed Seven’s debt, while Ryan and Kerry picked up losses to use later .

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