Australia’s Last Media Mogul Steps Down but Continues Fight for Free TV
Kerry Stokes, Australia's final media titan, has chaired his last annual general meeting for Seven West Media before stepping aside early next year. At 85, Stokes remains determined in his battle to protect free television for the public.
Criticism of Streaming Giants
During his final AGM, Stokes took aim at Netflix and other streaming services, condemning their tax strategies. He highlighted the billions taken in revenue without tax contributions, warning:
“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.”
Transition and Industry Concerns
Stokes announced he is preparing to step back, rather than fully retire, with the forthcoming merger between Seven West Media and the radio company behind the Triple M and Hit Networks. He emphasized the need for industry protection.
Last Mogul Standing
Following Kerry Packer's death and Rupert Murdoch's retirement, Stokes has been called the last mogul standing. His journey from a TV aerial installer, despite dyslexia and poverty, to media owner spans nearly five decades since his first investment in Seven.
Asked about his success, Stokes remarked:
“Oh, um, I got lucky.”
Enduring Commitment
Despite the hurdles, Stokes remains motivated by his mission:
“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, stepping down after nearly 50 years in media, remains fiercely committed to protecting free TV in Australia, criticizing streaming giants and advocating for industry safeguards.
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