It’s been obvious to anyone with eyes how Ryan Stokes and father Kerry Stokes played Southern Cross Media for a bunch of dumb donkeys.
They convinced then-chairman Heith Mackay-Cruise last year to merge with their Seven West Media (publisher of The West Australian) in an all-scrip transaction notionally worth $417 million. Southern Cross swallowed Seven’s debt, while Ryan and Kerry picked up losses to use later.
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