Southern Cross Media Group
| Company type | Public |
|---|---|
| Industry | Media |
| Predecessor | Macquarie Media Group |
| Founded | July 3, 2007 |
| Headquarters | South Melbourne , Australia |
| Products | Radio and television broadcasting |
Southern Cross Media Group, previously known as Macquarie Media Group, stands as a prominent Australian media corporation and the parent entity of Southern Cross Austereo, with its main office located in South Melbourne.
History
On 3 July 2007, Macquarie Media Group proposed a takeover bid valued at A$1.35 billion for Southern Cross Broadcasting, which was accepted, accompanied by intentions to divest metropolitan radio stations to Fairfax Media. The transaction finalizing the purchase of Southern Cross Broadcasting’s assets was completed on 5 November 2007. Subsequently, on 17 December 2009, shareholders sanctioned a corporate restructuring, resulting in the company adopting the name Southern Cross Media Group.
In March 2016, Macquarie Group divested a 15.7% shareholding in Southern Cross Media for $130 million; during this period, Nine Entertainment, proprietor of the Nine Network, acquired a 9.9% interest but sold this holding within six months.
Assets
- American Consolidated Media (holds a 10% non-voting interest)
- Southern Cross Austereo
- Hit Network – operates metropolitan and regional radio stations featuring hot adult contemporary music
- Triple M – runs metropolitan and regional radio outlets focused on mainstream rock and modern adult contemporary genres
- Southern Cross Seven
- TNT – serving Tasmania
- TND – broadcasting in Darwin
- GTS/BKN – covering the Spencer Gulf area in South Australia and Broken Hill, New South Wales
- GDS/BDN – affiliated with the Nine Network
- SGS/SCN – affiliated with Network 10
- QQQ – servicing Remote Eastern and Central Australia
- Tasmanian Digital Television (a 50% joint venture alongside WIN Corporation)
- Darwin Digital Television (jointly owned at 50% with Nine Entertainment)
- Central Digital Television (50% ownership in partnership with Imparja Television Pty Ltd)