Billionaire Stokes’ former right hand builds 10% stake in Seven
Bruce McWilliam has acquired a nearly 10% stake in Southern Cross Media, becoming one of its largest shareholders. This move follows a recent merger with Seven West Media, which has led to significant changes in the company's leadership. McWilliam, a former key figure at Seven, is expected to pursue a board seat amid ongoing control struggles within the company.
- ▪Bruce McWilliam has built a 9.5% stake in Southern Cross Media after purchasing 4.2% of shares for about $11.2 million.
- ▪The company recently merged with Seven West Media, resulting in a contest for control and the resignation of several executives.
- ▪McWilliam is anticipated to seek a position on the board, although the timing for this is not yet clear.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.