Macquarie Media Group
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Macquarie Media Group

Southern Cross Media Group
Public (ASXSXL)
IndustryMedia
FoundedNovember 2007
HeadquartersSouth Melbourne, Australia
Websitesoutherncrossaustereo.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. The group's head office (ASX registered) is located at Level 2, 257 Clarendon Street, South Melbourne.

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 Co., the owner of the Nine Network.[6][7] Nine sold this stake in the business six months later.[8]

Assets

References

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

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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