Southern Cross Media Group
| Company type | Public |
|---|---|
| ASX: SXL | |
| Industry | Media |
| Founded | November 2007 |
| Headquarters | South Melbourne, Australia |
| Owner | ARN Media 14.8% |
| Website | southerncrossaustereo.com.au |
Southern Cross Media Group (formerly Macquarie Media Group) is one of Australia's major media companies, as the parent company of Southern Cross Austereo. Its headquarters are in South Melbourne.
History[edit]
On 3 July 2007 Southern Cross Broadcasting recommended Macquarie Media Group's offer of A$1.35 billion, for a takeover of the corporation. Under the deal, Macquarie Media Group would then onsell the metropolitan radio stations to Fairfax Media.[1] On 5 November 2007, the company officially acquired Southern Cross Broadcasting's assets.[2] On 17 December 2009 shareholders approved a restructuring plan. The company was then renamed from Macquarie Media Group to its current name on 17 December 2009.[3][4][5]
In March 2016, Macquarie Group sold a 15.7% stake in Southern Cross Media worth $130 million, and of that 9.9% was purchased by Nine Entertainment, the owner of the Nine Network.[6][7] Nine sold this stake in the business six months later.[8]
Assets[edit]
- American Consolidated Media (10% non-voting stake) [9]
- Southern Cross Austereo
- Southern Cross 10
- CTC - Australian Capital Territory/Southern NSW (Canberra, Wollongong, Wagga Wagga, South Coast)
- GLV/BCV - Victoria (Bendigo, Ballarat, Gippsland, Albury-Wodonga)
- TNQ - Queensland (Toowoomba, Mackay, Rockhampton, Townsville, Cairns)
- SGS/SCN - South Australia (Spencer Gulf region of South Australia and Broken Hill, New South Wales)
- Southern Cross Seven
- TNT - Tasmania (Hobart and Launceston)
- TND - Northern Territory (Darwin)
- GTS/BKN - South Australia (Spencer Gulf region of South Australia and Broken Hill, New South Wales)
- QQQ - Central Australia (Remote Eastern and Central Australia)
- Southern Cross Nine
- GDS/BDN - South Australia (Spencer Gulf region of South Australia and Broken Hill, New South Wales)
- Tasmanian Digital Television (50% share with WIN Corporation)
- Darwin Digital Television (50% share with Nine Entertainment)
- Central Digital Television (50% share with Imparja Television Pty Ltd)
- Southern Cross 10
References[edit]
- ^ "Southern Cross Broadcasting sold for $1.35b". Australian Broadcasting Corporation. 3 June 2007. Retrieved 3 June 2007.
- ^ "Southern Cross falls to Mac and Fairfax". The Australian. 3 June 2007. Archived from the original on 9 November 2007. Retrieved 3 June 2007.
- ^ "Company website". macquarie.com.au. 19 February 2010. Retrieved 19 February 2010.
- ^ "InvestSmart profile". investsmart.com.au. 19 February 2010. Retrieved 19 February 2010.
- ^ "Internalisation and Corporatisation Meetings" (PDF) (Press release). 17 December 2009. Retrieved 2 March 2010.
- ^ Knox, David (18 March 2016). "Nine buys Southern Cross shares". TV Tonight. Retrieved 18 March 2016.
- ^ "Telstra tipped to offload its Foxtel stake as Nine buys 9.9% of Southern Cross Austereo". Mumbrella. 18 March 2016. Retrieved 18 March 2016.
- ^ "Nine sells stake in Southern Cross after only six months". AdNews. 30 September 2016. Retrieved 7 August 2019.
- ^ Editor & Publisher
