Southern Cross Media completed the effective takeover of Seven West in January, while the former head of Seven moved across to take the reins at the new entity.
But Jeff Howard tapped out on Monday evening as CEO and managing director "with immediate effect", the day before the company's first-half results announcement on Tuesday.
Chairman Heith Mackay-Cruise, who took over from WA billionaire Kerry Stokes after he stepped down from the role on Friday, will become interim executive chairman.
All internal leaders will report to him as a global search begins for a new chief executive.
The Southern Cross entity is absorbing Network Seven and The West Australian print and digital assets to sit with its Triple M and Hit radio networks, Listnr app and podcast network, and regional radio stations.
Mr Mackay-Cruise said on Tuesday the new business was already securing merger benefits, particularly through cross-promotion as TV accelerated growth in audio and digital audiences.
"We have also identified an early opportunity in regional markets, where client overlap between television and audio represents new business growth across both platforms," he said.
"We are targeting cost synergies of at least $30 million and expect to deliver these within fiscal 2027."
Southern Cross's audio business generated underlying earnings - before interest, tax, depreciation and amortisation - of $40 million, up 28 per cent on the previous first half.
The TV and publishing assets generated underlying earnings of $67 million, down 27 per cent, as previously announced earlier in February by former majority owner, the Stokes-family controlled conglomerate SGH.
Southern Cross is targeting pro-forma group revenue of $1.91-$1.92 billion for the 2025/26 financial year and group underlying earnings of $200-$220 million.
"Together, we reach Australians at scale at a national, regional and local level across our key content platforms of audio, television, streaming, publishing and digital," Mr Mackay-Cruise said.
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