SCA Evaluates New Proposal After Deal Withdrawal

HT&E Ltd (AU:A1N) has released an update.

Southern Cross Media Group Limited (SCA) has expressed disappointment following the withdrawal of a consortium’s acquisition proposal, a deal that was under consideration for nearly seven months. SCA is now evaluating an alternative proposal from ARN Media Limited, which includes a demerger allowing shareholders to retain certain assets while transferring digital audio assets to ARN. Amidst these developments, SCA’s digital audio business LiSTNR continues to show positive growth, generating positive EBITDA for the first time.

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