Southern Cross Media Details Director Michael Malone’s Exit and Ongoing Shareholding

The latest announcement is out from Southern Cross Media Group Limited ( (AU:SXL) ).

Southern Cross Media Group Limited has reported the cessation of Michael Malone as a director effective 20 February 2026, in line with ASX listing rule disclosure obligations. The filing details that Malone retains 157,542 ordinary shares held directly and a further 42,370 ordinary shares held indirectly via Dew Drops Pty Ltd ATF Zawsze Superannuation Fund, confirming his ongoing shareholding despite his departure from the board.

This update signals a governance change but indicates that Malone maintains a significant financial interest in the company, which may reassure investors about his continued alignment with shareholder outcomes. The notice also confirms there are no director-related interests in contracts associated with his role, suggesting a relatively straightforward transition with limited immediate operational or contractual impact for Southern Cross Media.

The most recent analyst rating on (AU:SXL) stock is a Hold with a A$0.75 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 operates in the media and broadcasting sector, focusing on radio and related media services in Australia. The company is publicly listed and subject to ASX disclosure requirements, including detailed reporting of directors’ interests in its securities under corporate governance rules.

Average Trading Volume: 848,688

Technical Sentiment Signal: Sell

Current Market Cap: A$318.4M

For a thorough assessment of SXL stock, go to TipRanks’ Stock Analysis page.