Kerry Stokes has chaired his final annual general meeting for Seven West Media, marking the end of an era for one of Australia’s most influential media figures.
The 85-year-old, often described as the nation’s last media titan, reaffirmed his commitment to free-to-air television as he prepares to step back from the role early next year.
Stokes used the occasion to criticise global streaming giants, claiming they have an unfair advantage over Australian broadcasters when it comes to tax obligations.
“They’ve taken out last year some $6 billion in revenue. They take the advertising and there’s no tax on it. They pay no tax here. And these people will go on until there’s nothing left,” Stokes said.
From February, Seven West Media will merge with the radio company behind the Triple M and Hit Networks – a move Stokes says is part of ensuring the broadcaster’s future.
“Yes, we will survive. We will survive. But we need protection. The whole industry needs some protection,” he said.
After the death of Kerry Packer and retirement of Rupert Murdoch, Stokes has been characterised as the last mogul standing – a self-made billionaire who rose from poverty and dyslexia to the peak of the media industry.
It has been 47 years since he first invested in the Seven network, having once worked as a TV aerial installer.
“Oh, um, I got lucky,” Stokes said when asked to reflect on his success.
His passion for local media remains undiminished.
“Because I love what we do. I love the fact that regardless of the headaches, we produce for the Australian public quality news, quality sports coverage and good entertainment.”
While stepping away from the top job, the Stokes family will remain major shareholders, with his son Ryan continuing on the board. Their long-held mission, he says, has not changed.
“The Australian public deserves to have free TV. It deserves to have free sport,” Stokes said, reinforcing that his vision for Australian culture and content will outlast his leadership.
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