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Southern Cross Media Faces Shareholding Restrictions Amid Strategic Focus

Story Highlights
  • SCA announced changes to Takeovers Panel orders affecting ARN Media’s shares.
  • SCA continues to focus on its ‘All About Audio’ strategy despite shareholding restrictions.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Southern Cross Media Faces Shareholding Restrictions Amid Strategic Focus

Elevate Your Investing Strategy:

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

Southern Cross Media Group Limited announced a variation in the Takeovers Panel orders concerning ARN Media’s shareholding, impacting 16,385,112 shares or 6.83% of SCA’s issued capital. The restrictions will gradually lift on a portion of these shares every six months, starting July 2025, affecting ARN’s voting rights on certain resolutions. Despite these restrictions, SCA remains focused on its ‘All About Audio’ strategy, continuing its operations and growth in the media industry.

The most recent analyst rating on (AU:SXL) stock is a Hold with a A$0.56 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 Austereo (SCA) is a leading media company in Australia, known for its LiSTNR digital audio app, and the Hit and Triple M networks. The LiSTNR app offers a wide range of digital audio content, including radio stations, sports coverage, music playlists, news, and podcasts, reaching an estimated eight million people monthly. SCA owns 104 radio stations and provides national sales representation for 56 regional radio stations, with a combined audience of over nine million listeners across its networks.

Average Trading Volume: 303,160

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$129.5M

See more insights into SXL stock on TipRanks’ Stock Analysis page.

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