Kerry Stokes’ Seven West Media plans to merge with Australia’s biggest radio company, Southern Cross Media, under a deal that would create a $415 million media group with television, radio and publishing operations. Southern Cross owns the Triple M Network as well as the Hit Network, which includes stations such as Melbourne’s The Fox, while Seven owns The West Australian newspaper and the Seven Network, which has AFL and cricket broadcast rights. Seven West Media chairman and biggest investor Kerry Stokes backs the deal. Credit: Trevor CollensThe announcement to the market on Tuesday morning said shareholders will receive 0.1552 SCA shares for every SWM share they own, resulting in Seven shareholders owning 49.9 per cent of the combined company, and Southern Cross shareholders owning 50.1 per cent. Seven is the largest shareholder in Southern Cross’ main competitor, ARN Media, and the two companies have been touted to merge for some time.