Macquarie Media Group Ipo

Macquarie media group ipo

Macquarie media group ipo

"Macquarie Media Group" redirects here. For the unrelated company formerly operating as Macquarie Radio Network, see Macquarie Media.

Southern Cross Media Group (formerly Macquarie Media Group) is one of Australia's major media companies, as the parent company of Southern Cross Austereo.

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The group's head office (ASX registered) is located at Level 2, 257 Clarendon Street, South Melbourne.

History[edit]

On 3 July 2007 Southern Cross Broadcasting recommended Macquarie Media Group's offer of A$1.35 billion, for a takeover of the corporation.

Macquarie media group ipo

Under the deal, Macquarie Media Group would then onsell the metropolitan radio stations to Fairfax Media.[1] On 5 November 2007, the company officially acquired Southern Cross Broadcasting's assets.[2] 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.[3][4][5]

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 Co., the owner of the Nine Network.[6][7] Nine sold this stake in the business six months later.[8]

Assets[edit]

  • American Consolidated Media (10% non-voting stake) [9]
  • Southern Cross Austereo
    • Southern Cross Nine
      • CTC - Australian Capital Territory/Southern NSW (Canberra, Wollongong, Wagga Wagga, South Coast)
      • GLV/BCV - Victoria (Bendigo, Ballarat, Gippsland, Albury-Wodonga)
      • TNQ - Queensland (Toowoomba, Mackay, Rockhampton, Townsville, Cairns)
      • SGS/SCN - South Australia (Spencer Gulf region of South Australia and Broken Hill, New South Wales)
    • Southern Cross Seven
    • Tasmanian Digital Television (50% share with WIN Corporation)
    • Darwin Digital Television (50% share with Nine Entertainment Co.)
    • Central Digital Television (50% share with Imparja Television Pty Ltd)

References[edit]

External links[edit]

Southern Cross Media logo used until July 2011

Macquarie media group ipo