TV giant Seven West Media and audio company Southern Cross Media are merging to form a new company.
The deal, if successful, will create a free-to-air TV, audio and digital publishing giant that will transform Australia’s media landscape.
Seven West’s flagship TV channel boasts a number of hit shows including My Kitchen Rules and Home and Away.
It also holds the broadcast rights to the AFL and cricket.
Alongside TV, its digital and publishing assets include The West Australian newspaper in Perth and The Nightly, a free national online news service.
Southern Cross owns the Hit Network, Triple M and the Listnr app.
Seven CEO Jeff Howard said the merger would create a “truly national, diversified media organisation”.
“This combination marks a pivotal moment for Australia media,” he sai