Southern Cross Media Group

Last updated

Southern Cross Media Group Limited
Company type Public
ASX:  SXL
Industry Media
Predecessor Southern Cross Broadcasting
FoundedNovember 2007;17 years ago (November 2007)
Headquarters South Melbourne, Australia
Area served
 Australia
Key people
OwnerARN Media 14.8%
Subsidiaries Southern Cross Austereo
Website sca.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.

Contents

It was announced in September 2025 that Southern Cross Media Group and Seven West Media were planning to merge by early 2026. [1]

History

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. [2] On 5 November 2007, the company officially acquired Southern Cross Broadcasting's assets. [3] 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. [4] [5] [6]

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. [7] [8] Nine sold this stake in the business six months later. [9]

Following Seven West Media’s acquisition of Southern Cross Austereo’s remaining television assets in July 2025 and SCA’s exit from television, Seven West and Southern Cross Media announced their intention to merge by early 2026. Seven West Media’s CEO Jeff Howard is to lead the merged companies as CEO and Manager Director, with Southern Cross Chairman Heith Mackay-Cruise to succeed Kerry Stokes as group Chairman. [1]

Assets

References

  1. 1 2 Knox, David (30 September 2025). "Seven and Southern Cross Media to merge, Kerry Stokes to retire. | TV Tonight". TV Tonight. Retrieved 1 October 2025.
  2. ↑ "Southern Cross Broadcasting sold for $1.35b". Australian Broadcasting Corporation. 3 June 2007. Archived from the original on 10 December 2007. Retrieved 3 June 2007.
  3. ↑ "Southern Cross falls to Mac and Fairfax". The Australian . 3 June 2007. Archived from the original on 9 November 2007. Retrieved 3 June 2007.
  4. ↑ "Company website". macquarie.com.au. 19 February 2010. Retrieved 19 February 2010.
  5. ↑ "InvestSmart profile". investsmart.com.au. 19 February 2010. Retrieved 19 February 2010.
  6. ↑ "Internalisation and Corporatisation Meetings" (PDF) (Press release). 17 December 2009. Retrieved 2 March 2010.
  7. ↑ Knox, David (18 March 2016). "Nine buys Southern Cross shares". TV Tonight . Retrieved 18 March 2016.
  8. ↑ "Telstra tipped to offload its Foxtel stake as Nine buys 9.9% of Southern Cross Austereo". Mumbrella . 18 March 2016. Retrieved 18 March 2016.
  9. ↑ "Nine sells stake in Southern Cross after only six months". AdNews. 30 September 2016. Retrieved 7 August 2019.
  10. ↑ "Editor & Publisher". Archived from the original on 29 March 2013. Retrieved 8 July 2012.
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