Southern Cross, Nine in $2.2bn merger talks

Original article by Christine Lacy, Damon Kitney, Darren Davidson
The Australian – Page: 19 : 13-Nov-15

Nine Entertainment Company has held merger discussions with regional broadcaster Southern Cross Media Group, and sources have suggested that there is an even chance of a deal proceeding. The "reach rule" would prohibit a full merger at present, but the deal being discussed is said to involve Nine acquiring Southern Cross’ radio stations immediately. Nine would subsequently buy Southern Cross’s TV stations if and when cross-media ownership rules are relaxed.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SOUTHERN CROSS AUSTEREO PTY LTD, NINE NETWORK AUSTRALIA LIMITED, MI9, NINEMSN PTY LTD, 2DAY FM AUSTRALIA PTY LTD, TRIPLE M CORPORATION PTY LTD, THE HIT NETWORK, SEVEN NETWORK LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, CVC ASIA PACIFIC (AUSTRALIA) PTY LTD, APOLLO GLOBAL MANAGEMENT LLC, OAKTREE CAPITAL MANAGEMENT LLC, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, LUMINIS PARTNERS PTY LTD

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