Southern Cross Media Group Limited (AU:SXL) has released an update.
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Southern Cross Media Group Limited (SCA) has opted not to proceed with the acquisition of certain assets from Australian Community Media (ACM), as it was determined the assets do not align with SCA’s audio-focused strategy and would not enhance shareholder value. Despite recognizing some benefits in ACM’s digital and regional content, SCA has maintained its commitment to its existing strategy and advised shareholders to take no action regarding the proposal. The company’s financial outlook for the year remains as projected in their May 15, 2024 guidance.
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