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The latest announcement is out from Southern Cross Media Group Limited ( (AU:SXL) ).
The Australian Competition and Consumer Commission (ACCC) has decided not to oppose Southern Cross Media Group’s proposed acquisition of Seven West Media. The ACCC’s investigation concluded that the two companies are not close competitors in the supply of advertising opportunities or media content, as Southern Cross focuses on radio and audio entertainment while Seven West Media is involved in print news and television. The decision reflects broader industry trends, such as the rise of digital media and online advertising, which continue to challenge traditional media platforms. The acquisition is unlikely to substantially lessen competition in any market.
The most recent analyst rating on (AU:SXL) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Southern Cross Media Group Limited stock, see the AU:SXL Stock Forecast page.
More about Southern Cross Media Group Limited
Southern Cross Media Group Limited is an Australian media and entertainment company listed on the ASX. It operates 104 FM, AM, and digital commercial radio stations under the Triple M and HIT brands, holding 88 radio licenses in metropolitan and regional areas of Australia. The company also produces over 800 podcasts, 50 music stations, and live sports coverage, focusing primarily on radio and audio entertainment.
Average Trading Volume: 301,117
Technical Sentiment Signal: Buy
Current Market Cap: A$203.9M
Find detailed analytics on SXL stock on TipRanks’ Stock Analysis page.