Billionaire Stokes’ former right hand builds 10% stake in Seven

Seven West Media’s former long time commercial director and one-time Kerry Stokes consigliere Bruce McWilliam has built up a near-10 per cent stake in the company that recently bought the television network.

Seven and radio company Southern Cross Media merged just four months ago, leading to a major contest for control that has led to the ouster of numerous executives and the resignation of the company’s chairman, Heith McKay-Cruise.

Now McWilliam, who was for many years Stokes’ right-hand man, has emerged as a key player, purchasing 4.2 per cent of the company’s shares on Wednesday morning for about $11.2 million.

This takes McWilliam’s stake in the company to 9.5 per cent, making him one of its top individual shareholders. He purchased a 5.3 per cent stake just last month.

McWilliam is expected to seek a seat on the board, though the timing of that is unclear. He left Seven in early 2024.

Southern Cross’ chair Mackay-Cruise announced earlier this month that he would resign as chair immediately and leave the board altogether at the end of June. Director Teresa Dyson became the company’s fourth chair in as many months.

McWilliam was contacted for comment.

Freshly minted chief executive Rohan Lund will bring Southern Cross executives together in Sydney this week for a leadership getaway at the Coogee Intercontinental Hotel.

More to come.

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