Kerry Stokes, a prominent figure in Australian media, has announced his decision to step down as chairman of Seven West Media after an impressive tenure of 47 years. His final annual general meeting (AGM) took place recently, where he reaffirmed his commitment to advocating for free television, even as he prepares to transition from his leadership role in February 2024.
During the AGM, the 85-year-old media mogul did not shy away from voicing his concerns regarding the impact of streaming platforms like Netflix. He criticized their tax practices, pointing out that they generated approximately $6 billion in revenue last year without contributing any taxes in Australia. “They take the advertising and there’s no tax on it. These people will go on until there’s nothing left,” Stokes emphasized, highlighting his ongoing fight for the local media industry.
As Stokes prepares to step back—not down—he remains optimistic about the future of Seven West Media, especially in light of its upcoming merger with the radio conglomerate behind the Triple M and Hit Networks. Stokes stated, “Yes, we will survive. We will survive. But we need protection. The whole industry needs some protection.”
Having been dubbed the last media mogul standing following the deaths of Kerry Packer and the retirement of Rupert Murdoch, Stokes reflects on his journey from a humble background to becoming a billionaire. His rise from a TV aerial installer to a network owner is a testament to his resilience and determination. “Oh, um, I got lucky,” Stokes remarked modestly when reflecting on his success.
Despite the challenges he has faced, Stokes’ passion for the media remains unwavering. He stated, “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.”
The Stokes family will continue to play a significant role in Seven West Media, with Stokes’ son, Ryan Stokes, remaining on the board as a major shareholder. Their motivation is clear: to protect and promote Australian culture and content. “The Australian public deserves to have free TV. It deserves to have free sport,” Stokes asserted, expressing his enduring commitment to the industry.
As Kerry Stokes concludes his chapter with Seven West Media, his influence and advocacy for free television and local content will likely resonate in the media landscape for years to come.
