Southern_Cross_Media

Southern Cross Media Group

Southern Cross Media Group

Australian media company

"Macquarie Media Group" redirects here. For the unrelated company formerly operating as Macquarie Radio Network, see Nine Radio.

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.

Quick Facts Company type, Traded as ...

History

Southern Cross Media logo used until July 2011

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

References

  1. [1]
    "Southern Cross Broadcasting sold for $1.35b". Australian Broadcasting Corporation. 3 June 2007. Retrieved 3 June 2007.
  2. [2]
    "Southern Cross falls to Mac and Fairfax". The Australian. 3 June 2007. Archived from the original on 9 November 2007. Retrieved 3 June 2007.
  3. [3]
    "Company website". macquarie.com.au. 19 February 2010. Retrieved 19 February 2010.
  4. [4]
    "InvestSmart profile". investsmart.com.au. 19 February 2010. Retrieved 19 February 2010.
  5. [5]
    "Internalisation and Corporatisation Meetings" (PDF) (Press release). 17 December 2009. Retrieved 2 March 2010.
  6. [6]
    Knox, David (18 March 2016). "Nine buys Southern Cross shares". TV Tonight. Retrieved 18 March 2016.
  7. [7]
    "Telstra tipped to offload its Foxtel stake as Nine buys 9.9% of Southern Cross Austereo". Mumbrella. 18 March 2016. Retrieved 18 March 2016.
  8. [8]
    "Nine sells stake in Southern Cross after only six months". AdNews. 30 September 2016. Retrieved 7 August 2019.
  9. [9]
    Editor & Publisher
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