The latest announcement is out from Southern Cross Media Group Limited ( (AU:SXL) ).
Southern Cross Media Group Limited has announced the sale of its remaining television assets to Australian Digital Holdings for a total of $6.35 million, with $3.75 million in upfront cash and $2.6 million through transitional service arrangements. This divestment marks SCA’s complete exit from television, allowing the company to focus on its core radio and digital audio operations, and the proceeds will be used to reduce net debt. The transaction is expected to enhance SCA’s financial position and strategic focus in the competitive media landscape.
More about Southern Cross Media Group Limited
Southern Cross Austereo (SCA) is a leading Australian media company known for its extensive network of radio stations under the Triple M and Hit brands, as well as its digital audio app LiSTNR. The company reaches over 95% of the Australian population and offers a wide range of audio content, including music, sports coverage, and podcasts. SCA also provides sales representation for regional radio stations and global audio platforms like SoundCloud and Sonos Radio.
YTD Price Performance: 12.12%
Average Trading Volume: 205
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €93.28M
Learn more about SXL stock on TipRanks’ Stock Analysis page.
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