Southern Cross Broadcasting

Southern Cross Broadcasting
(Australia) Limited

Company type	Public
Traded as	ASX:  SBC
Industry	Media
Founded	20 August 1987 (1987-08-20)
Defunct	5 November 2007 (2007-11-05)
Fate	Acquired
Successor	Fairfax Media Macquarie Media Group
Headquarters	Melbourne, Australia
Key people	Tony Bell (Managing Director) John Dahlsen (Chairman)
Products	Radio Television
Revenue	$525 million (2007)
Net income	$61 million (2007)
Website	www.southerncrossbroadcasting.com.au

Southern Cross Broadcasting was a diversified Australian media company, that owned and operated a variety of media businesses, primarily in radio and television.

History

In September 1998 Southern Cross Broadcasting (SCB) purchased Adelaide Channel Nine station NWS from the Lamb family adding to its television assets of Ten Capital in Canberra and southern New South Wales, Ten Victoria in regional Victoria and Southern Cross Television, which televised both Seven Network and Network 10 programming into Tasmania. ^[1]

In May 2001 SCB announced a $217 million bid for Telecasters Australia, owner of television stations in regional Queensland, northern New South Wales, Darwin and Remote/Central Australia markets. In April 2002 it purchased Spencer Gulf Telecasters, owner of regional South Australia's GTS/BKN stations.

In May 2007 SCB sold Channel Nine Adelaide to WIN Corporation. ^{[2] [3]} In July 2007 Southern Cross Broadcasting's board recommended Macquarie Media Group's takeover offer be accepted. ^{[4] [5]}

At the same time, Macquarie Media Group entered have a separate scheme of arrangement to on-sell Southern Cross Broadcasting's radio assets to Fairfax Media, as well as the Southern Star Group, Satellite Music Australia and its digital media businesses. ^[6] Only Southern Cross's television stations remained with Macquarie Media Group. The transactions were completed on 5 November and 9 November 2007. ^{[7] [8] [9]}

Assets

Television stations

• Southern Cross Ten
  • CTC – Australian Capital Territory/Southern NSW (Canberra)
  • GLV/BCV – Victoria (Bendigo, Ballarat, Gippsland, Albury-Wodonga)
  • NRN – Northern NSW/Gold Coast (Newcastle, Central Coast, North Coast, Northern Rivers, Gold Coast)
  • 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 Television
  • 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, Southern and Central Australia)
• Tasmanian Digital Television (50% share with WIN Corporation)
• Channel Nine Adelaide (NWS) (Channel Nine station located in Adelaide) (Purchased by WIN Corporation on 30 May 2007)
• MyTalk

Radio stations

• Talk stations
  • 2UE
  • 3AW
  • 4BC
  • 6PR
• Music stations
  • Magic 1278
  • 4BH
  • 96fm

Other businesses

• Southern Star Group

References

1. Movement at the station Australian Financial Review 22 August 1998
2. Sale of Channel 8 Adelaide to WIN Southern Cross Broadcasting 29 May 2007
3. WIN buys Channel 9 Adelaide The Age 30 May 2007
4. Southern Cross Broadcasting Recommends $17.41 Cash Offer from Macquarie Media Group Southern Cross Broadcasting 3 July 2007
5. Southern Cross Broadcasting sold for $1.35b ABC News 3 July 2007
6. Letter to shareholders regarding Macquarie Media Group proposed acquisition Southern Cross Broadcasting 19 June 2007
7. Completion of Southern Cross Broadcasting Acquisition Macquarie Media Management 6 November 2007
8. Southern Cross falls to Mac and Fairfax The Australian 9 November 2007
9. Macquarie Media Group Completes sale of Southern Cross assets to Fairfax Macquarie Media Group 9 November 2007