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The latest announcement is out from Southern Cross Media Group Limited ( (AU:SXL) ).
Southern Cross Media Group Limited (SCA) has received approval from the Australian Communications and Media Authority (ACMA) for its proposed acquisition of Seven West Media Limited (SWM) through a scheme of arrangement. This approval fulfills a key regulatory condition, allowing the merger to progress, although it remains subject to other customary conditions. SCA has committed to potential divestments, which are not expected to significantly impact the combined entity, and is advocating for regulatory reforms to retain all existing broadcasting licenses. The merger is anticipated to enhance SCA’s market positioning and operational capabilities.
The most recent analyst rating on (AU:SXL) stock is a Hold with a A$0.79 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 prominent Australian media company known for its LiSTNR digital audio app and the Hit and Triple M networks. The company offers a wide range of digital audio content, including FM, AM, and DAB+ radio stations, sports coverage, music playlists, and podcasts. SCA reaches an estimated eight million people monthly through its digital audio sales network and owns 104 radio stations across various platforms.
Average Trading Volume: 286,121
Technical Sentiment Signal: Buy
Current Market Cap: A$189.5M
For detailed information about SXL stock, go to TipRanks’ Stock Analysis page.