‘The public deserve free TV’: Stokes goes out swinging after almost 50 years
Australia’s last major media mogul, Kerry Stokes, is stepping away from leadership but continuing his long-running battle to defend free television. After nearly half a century at the helm, the 85-year-old chaired his final AGM for Seven West Media and announced plans to hand over the role early next year.
Final speech and criticism of streaming giants
During his closing address, Stokes reiterated his commitment to traditional broadcasting and voiced frustration with global streaming services for their financial practices.
“They’ve taken out last year some $6 billion in revenue. They take the advertising and there’s no tax on it. And these people will go on until there’s nothing left,” Stokes said.
His critique underscored ongoing tensions between domestic media networks and international streaming platforms such as Netflix, which he believes put local broadcasters at a disadvantage.
Plans for transition and the future
Stokes confirmed he will step back, not step down, in February, when Seven is set to merge with the radio conglomerate behind the Triple M and Hit Networks.
“The whole industry needs some protection,” he said.
He emphasized that his retreat from daily operations does not signal an end to his advocacy for the free-to-air television industry.
From humble beginnings to media titan
Often described as the nation’s last media titan, Stokes built his empire from modest beginnings. Born with dyslexia and raised in poverty, he transformed from a TV antenna installer into a network owner. His first stake in Seven dates back 47 years, marking a remarkable career of persistence and vision.
“Oh, um, I got lucky,” Stokes said when asked about the secret to his success.
Dedication to Australian audiences
Despite market pressures, Stokes remains devoted to providing Australians with credible journalism, quality sports coverage, and engaging entertainment.
“I love the fact that regardless of the headaches, we produce for the Australian public quality news, quality sports coverage and good entertainment.”
Author’s Summary
Kerry Stokes ends nearly fifty years as Australia’s leading media figure, defending free TV and pledging to protect local broadcasting against global streaming giants.